Suppose the current market price of corn is 428 per bushel, Financial Management

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Suppose the current market price of corn is 428 per bushel

Suppose the current market price of corn is $4.28 per bushel. Your firm has a technology that can conert 1 brushel of corn to 3 gallons of ethanol. if the cost of conversion is $1.59 per brushel, at what market price of ethanol does conversion become attractive?

1. The price at which the conversion becomes attractive is $________ per Gallon (round to the nearest cent.)

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Financial Management: Suppose the current market price of corn is 428 per bushel

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Financial Management: Suppose the current market price of corn is 428 per bushel

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