Suppose you just purchased land to produce wheat. You want to graze stocker cattle for a portion
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Question:
Suppose you just purchased land to produce wheat. You want to graze stocker cattle for a portion of the growing season, then harvest the wheat for grain.
- You determined you can graze the wheat and produce 126 lbs of steer gain per acre and still harvest 16 bushels per acre of wheat.
- You have contracted your steers fro $1.39/lb and your wheat for $5.3114/bu.
- You estimate the cost of maintaining 1 acre of wheat at $187/acre.
- With the information above, calculate the profit (or loss) per acre you expect.
Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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