Problem
The owner of a small forest in Florida is raising trees as a cash crop. A forester friend tells him that certain silvicultural practices, costing $334 now, will yield an extra 10,000 board feet of timber when the forest is harvested in 30 years. Harvesting and other costs will not change significantly. What price of timber per board foot would be required for the silvicultural practices to be worthwhile, if the appropriate discount rate was 12 percent?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.