8/ "Hd 1 ECON^$&%( d0'\018)'*-bB'05  @C@ 54  @ ?5  >5  @C@ 54  ?6  >6  0@ 46   ?6   >6  .@  46   'H3 '=  'PERIOD4 'H4:@ ?5  >5  =5  D@ 54   ?5  @ >5   =5  D@ 54 (@ ?6  >6  =6 .@ 46 (@  ?6   >6   =6 1@  46  'H4'= 'PERIOD5 'H5 ?5 :@ >5  =5   <5  :@ ?5   >5  @ =5   <5  ?6 (@ >6  =6  <6   ?6 (@  >6   =6   <6  'H5'= 'PERIOD6 'H6 ?5  >5 :@ =5   <5   ?5  :@ >5   =5  @ <5  ?6  >6 (@ =6  <6   ?6   >6 (@  =6   <6  'H6'= 'PERIOD7 'H7:@ ?5  >5  =5  :@ <5  @ ?5   >5  :@ =5   <5 (@ ?6  >6  =6 (@ <6 (@  ?6   >6   =6 (@  <6  'H7'= 'PARK ACRES 'PACR    'PACR'= 'RX2ACRES 'RX2ACR         'RX2ACR'= 'OWLACRES 'OWLACR  'OWLACR'=  'ACUT1 'ACUT1      'ACUT1'=  'ACUT2 'ACUT2      'ACUT2'=  'ACUT3 'ACUT3      'ACUT3'= 'OPERATINC COSTS 'TC1+|@d g h g >@g>@g >@g+ |@d g h g  >@g >@g >@g>@g+@d i j i 4@i4@i4@i4@i+@d k l l 4@l4@l4@l4@l 'TC1'=  'TC2>@g+@d g h g >@g >@g >@g+ @d g h g  >@g >@g>@g4@i+@d i j i 4@i4@i4@i4@l+|@d k l l 4@l4@l4@l 'TC2'=  'TC3>@g>@g+@d g h g  >@g% ~@d h g  >@g+ @d g h g  >@g>@g4@i4@i+֥@d i j i 4@i4@i4@l4@l+&@d k l l 4@l4@l 'TC3'=  'TC4+`@d h h g >@g>@g+ @d g h g  >@g% ~@d h g  >@g+ @d g h g >@g+p@d j j i 4@i4@i+@d i j i 4@i+p@d l l l 4@l4@l+@d k l l 4@l 'TC4'=  'TC5>@g+`@d h h g >@g >@g+ `@d h h g  >@g% ~@d h g  >@g>@g4@i+p@d j j i 4@i4@i4@i4@l+p@d l l l 4@l4@l4@l 'TC5'=  'TC6>@g>@g+`@d h h g  >@g >@g+ `@d h h g  >@g% ~@d h g >@g4@i4@i+p@d j j i 4@i4@i4@l4@l+p@d l l l 4@l4@l 'TC6'=  'TC7+`@d h h g >@g>@g+ `@d h h g % ~@d h g  >@g+ `@d h h g  >@g>@g+p@d j j i 4@i4@i+p@d j j i 4@i+p@d k l l 4@l4@l+p@d l l l 4@l 'TC7'= 'NET REVENUE 'NR1%y@d g  %>d h  %>d h  % >d h  % y@d g  % >d h  % >d h  % >d h  %>d h  % @d i  %4d j  %4d j  %4d j  %4d j  %z@d k  %4d l  %4d l  %4d l  %4d l   'NR1'=   'NR2% >d h  % @d g  % >d h  % >d h  % >d h  % @d g  % >d h  % >d h  % >d h  % 4d j  % X@d i  % 4d j  % 4d j  % 4d j  % 4d l  % |@d k  % 4d l  % 4d l  % 4d l    'NR2 '=   !'NR3%!>d h  %!>d h  %!@d g  % !>d h  % !@d h  % !>d h  % !@d g  % !>d h  %!>d h  %!4d j  %!4d j  %!@d i  %!4d j  %!4d j  %!4d l  %!4d l  %!L@d k  %!4d l  %!4d l   !'NR3!'= ! "'NR4%"h@d h  %">d h  %">d h  % "g@d g  % ">d h  % "@d h  % ">d h  % "g@d g  %">d h  %"p@d j  %"4d j  %"4d j  %"z@d i  %"4d j  %"p@d l  %"4d l  %"4d l  %".@d k  %"4d l   "'NR4"'= " #'NR5%#>d h  %#h@d h  %#>d h  % #>d h  % #h@d h  % #>d h  % #@d h  % #>d h  %#>d h  %#4d j  %#p@d j  %#4d j  %#4d j  %#4d j  %#4d l  %#p@d l  %#4d l  %#4d l  %#4d l   #'NR5#'= # $'NR6%$>d h  %$>d h  %$h@d h  % $>d h  % $>d h  % $h@d h  % $>d h  % $@d h  %$>d h  %$4d j  %$4d j  %$p@d j  %$4d j  %$4d j  %$4d l  %$4d l  %$p@d l  %$4d l  %$4d l   $'NR6$'= $ %'NR7%%h@d h  %%>d h  %%>d h  % %h@d h  % %@d h  % %>d h  % %h@d h  % %>d h  %%>d h  %%p@d j  %%4d j  %%4d j  %%p@d j  %%4d j  %%p@d l  %%4d l  %%4d l  %%p@d l  %%4d l   %'NR7%'= %&'NEUTRAL PNV&'NV 7 DECADES &'PNV7c&{ u@Tx y z { | } ~ c& 6 l@Tx y z { | } ~ c&1R@Tx y z { | } ~ c &/0@Tx y z { | } ~ c &I()2@Tx y z { | } ~ c &si,@Tx y z { | } ~ c &bt}ڱ@Tx y z { | } ~ c &S0)@Tx y z { | } ~ c&rQTx y z { | } ~ c&^\@Tx y z { | } ~ c&9}@Tx y z { | } ~ c&r@Tx y z { | } ~ c&Jy9 d@Tx y z { | } ~ c&hGTx y z { | } ~ c&A|@Tx y z { | } ~ c&}0>w@Tx y z { | } ~ c&BqsQ@Tx y z { | } ~ c&Ue@Tx y z { | } ~ c&hGTx y z { | } ~  &'PNV7&'= & ''ENDING INVENTORY PERIOD 7 ''I7' 5[ '0@ 5Z '@ 5Y  ' 5X  '$@ 5[  '@ 5Z  ' 5Y  '3@ 5X '  5\ ' 6 [ '@ 6 Z ' 6 Y ' 6 X '  6 \ ' 6 [ '@ 6 Z ' 6 Y ' 6 X '  68X  ''I7''= '('AREA STAND TYPE A ('AREAA ( ( (  (  (  (  (  ( ( ('AREAA('= ()'AREA STAND TYPE B )'AREAB ) ) ) ) ) )'AREAB)'= )*'AREA STAND TYPE C *'AREAC * * * * * *'AREAC*'= *+'TOTAL AREA+'TOTAREA!+?() * !+?() * !+?() * ! +?() * ! +?() * ! +?() * ! +?() * ! +?() * !+?() * !+?() * !+?() * !+?() * !+?() * !+?() * !+?() * !+?() * !+?() * !+?() * !+?() * +'TOTAREA+'= +,'!single -'!endq.'=========q.'=========q.'DATA LINEq.'=========q.'=========q.'=========q.'=========q.'=========q.'=========q .'=========q .'=========q .'=========q .'=========q .'=========q.'=========q.'=========q.'=========q.'=========q.'=========q.'=========q.'=========q.'=========q.'=========q.'=========q.'=========q.'=========q.'=========q.'========= q. q. q. q. q . q!. q0 q0 q0 0' q1 q1'STAND q1'AREA q1!q1'YIELD MODIFICATION FACTORS q1 q1q1' )q1'(1.0 = INITIAL ESTIMATE OF YIELDS) q2 q2'TYPE q2'ACRES q3q3'A q3 q3q3'Rx INDEX q3 q3 q3 q3 q 3 q 3 q 3 q4q4'B q4 q5q5'C q5 q5q5'GOOD SITE q5 q5 q5 q5 q 5 q 5 q 5 q6 q6 q6 q6q6'POOR SITE q6 q6 q6 q6 q 6 q 6 q 6q;'Rx INDEXq;'CULTURE OF REGEN q; q;q;'EXISTING STAND YIELDS q< q< q< q<q<'STAND TYPEq<'Aq<'Aq<'Aq<'Bq <'C q < q < q < q< q< q< q< q< q< q< q< q< q"< q#< q$< q=q='EVENAGE R30 q= q=q='Rx INDEX q= q= q= q= q = q = q = q = q= q= q= q= q= q= q= q= q= q"= q#= q$= q>q>'EVENAGE CT2 R4 q? q? q? q? q?'PERIOD q? q?# q?# q? q ? q ? q ? q ? q? q? q? q? q? q? q? q? q? q"? q#? q$? q@ q@ q@ q@q@'ENTERED q@ q@% q@% q@1@ q @ q @ q @ q @ q@ q@ q@ q@ q@ q@ q@ q@ q@ q"@ q#@ q$@ qA qA qA qA qA qA qA@C@ qA@C@ qA0@ q A q A q A q A qA qA qA qA qA qA qA qA qA q"A q#A q$A qB qB qB qB qB qB qB( qB( qB q B1@ q B q B q B qB qB qB qB qB qB qB qB qB q"B q#B q$B qC qC qC qC qC qC qC qC qC q C q C q C q C qC qC qC qC qC qC qC qC qC qC qC qC q"C q#C q$C qD qD qD qD qD qD qD qD qD q D q D q D q D q D qD qD qD qD qD qD qD qD qD qD qD qD q"D q#D q$D qE qE qE qE qE qE qE qE qE q E q E q E q E q E qE qE qE qE qE qE qE qE qE qE qE qE q"E q#E q$E qF qF qF qF qF qF qF qF qF q F q F q F q F q F qF qF qF qF qF qF qF qF qF qF qF qF q"F q#F q$F qG qG qG qGqG'REGENERATED STAMD YIELDS q G q G qG qG qG qG qG qG qG qG qG qG qG qG q"G q#G q$G qH qH qH qHqH'STAND TYPEqH'AqH'AqH'AqH'Bq H'C q H q H q H q H qH qH qH qH qH qH qH qH qH qH qH qH q"H q#H q$H qI qI qI qIqI'Rx INDEX qI qI qI qI q I q I q I q I q I qI qI qI qI qI qI qI qI qI qI qI qI q"I q#I q$I qJ qJ qJ q J q J qJ qJ qJ qJ qJ qJ qJ qJ qJ qJ qJ qJ qJ qJ qJ qJ qJ qJ q J q!J q"J q#J q$J qK qK qK qK qK'PERIOD qK qK qK qK q K q K q K q K q K qK qK qK qK qK qK qK qK qK qK qK qK qK qL qL qL qLqL'ENTERED qL qL qL qL q L q L q L q L q L qL qL qL qL qL qL qL qL qL qL qL qL qL qM qM qM qM qM qM q M q M q M qN qN qN qN qN qN qN qN qN q N q N q N qO qO qO qO qO qO qO qO qO q O q O q O q O q O qO qO qO qO qO qO qO qO qO qO qO qO qO qO qO q O q!O q"O q#O q$O8O'C qP qP qP qP qP qP qP qP qP q P q P q P q P q P qP qP qP qP qP qP qP qP qP qP qP qP qP qP qP q P q!P q"P q#P q$P 8P qQ qQ qQ qQ qQ qQ q Q q Q q Q qR qR qR`R'AFTER CUT YIELDS FOR INVENTORY -- START THIS TABLE AFTER THE FIRST CUT OR USE DIRECT FRO R'ECT FOR THE UNCUTS qR qR qR qR qR qR qR qR qR qR qR qR q R q!R q"R q#R q$R 8R qS qS qSS'AS'AS'A S'B S'B S'C qS qS qS qS qS qS qS qS qS qS qS qS q S q!S q"S q#S q$S 8S qT qT qT T T T  T  T  T qT qT qT qT qT qT qT qT qT qT qT qT q T q!T q"T q#T q$T 8T qU qU qU U'period qU qU qU qU qU qU qU qU qU qU qU qU q U q!U q"U q#U q$U 8U1@ qV qV qV V V V V#  V  V  V qV qV qV qV qV qV qV qV qV qV qV qV q V q!V q"V q#V q$V 8V4@ qW qW qW W W W W%  W W1@  W qW qW qW qW qW qW qW qW qW qW qW qW q W q!W q"W q#W q$W 8W6@ qX qX qX X X X X@C@  X X0@  X qX qX qX qX qX qX qX qX qX qX qX qX q X q!X q"X q#X q$X 8Xffffff9@ qY qY qY qY qY Y Y Y Y(  Y  Y  Y qY qY qY qY qY qY qY qY qY qY qY qY q Y q!Y q"Y q#Y q$Y qZ qZ qZ qZ qZ Z Z Z Z)  Z  Z  Z qZ qZ qZ qZ qZ qZ qZ qZ qZ qZ qZ qZ q Z q!Z q"Z q#Z q$Z q(Z q[ q[ q[ q[ q[ [ [ [ [)  [ [%@  [ q[ q[ q[ q[ q[ q[ q[ q[ q[ q[ q[ q[ q [ q![ q"[ q#[ q$[ q\ q\ q\ q\ q\ \ \ \ \)  \ \%@  \ q\ q\ q\ q\ q\ q\ q\ q\ q\ q\ q\ q\ q \ q!\ q"\ q#\ q$\ q] q] q] q] q] q] q] q] q] q ] q ] q ] q ] q ] q] q] q] q] q] q] q] q] q] q] q] q] q] q] q] q ] q!] q"] q#] q$] qaqa'ECONOMIC DATA qcqc'STAND STATUS qc qc'LOGqc'LOGGING qc'SITE qc'ANNUAL qd qd'TYPE qd qd'PRICES qd'COST qd'PREPqd'MANAGEMENT qe qe qe qe qe qe'COST qe'COST qf qf qf qf'$/CF qf'$/CF qf'$/ACRE qf'$/ACREf'$/decade qgqg'A qg'EXIST qg qg qg qg g qhqh'A qh'REGEN qh@ qh? qh qh h qiqi'B qi'EXIST qi qi? qi qi i qjqj'B qj'REGEN qj@ qj? qj, qj j qkqk'C qk'EXIST qk@ qk? qk qk k qlql'C ql'REGEN ql@ ql? ql, ql l qnqn'GUIDING INTEREST RATE qn qn qn{Gz? qp!qp'REAL RATES OF PRICE CHANGE qp qp qp qp'LOGqp'LOGGINGqp'MANAGEMENT qq qq qq qq qq qq'PRICES qq'COSTS qq'COSTS qrqr'NEUTRAL ASSUMPTIONS qr qr qr qr qr qr qsqs'OPTOMISTIC ASSUMPTIONS qs qs qs qs{Gz? qs qs qtqt'PESSIMISTIC ASSUMPTIONS qt qt qt qt qt{Gz? qtQ? qw qw'PERIODqw'INT.YEARSqw'.O4FACTR qx qx qx$qx+Fg:M?n   qy qy qy$qy ?n   qz qz qz$qzw?n   q{ q{ q{#$q{ą7?n   q| q| q|-$q|^?n   q} q} q}7$q}k?n   q~ q~ q~A$q~7ņ?n   q q q q q q q q q q q q q q q q q q q q