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As a project manager for The Nature Conservancy (TNC), you need to determine whether to...

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Finance

As a project manager for The Nature Conservancy (TNC), you need to determine whether to purchase a large tract of land in northwestern Minnesota and convert it to native prairie. The TNC plans to keep the land indefinitely. It will cost you $400 per acre to purchase the land and $285 per acre to establish native prairie cover (the native prairie cover is established at the same time the land is purchased). Assuming the benefits from the property being converted to native prairie begin one year after the land is purchased and continue indefinitely, what annual benefit needs to be generated per acre in order to make this projects present value = 0? Assume the TNCs discount rate is 9.5 percent per year.

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