'I'HE ECONOMICS OF ESTABLISHING AND OPERATING A CONCORD GRAPE VINEYARD

Farm Business Management Reports EB1572 'I'HE ECONOMICS OF ESTABLISHING AND OPERATING A CONCORD GRAPE VINEYARD J.G. Schimmel R.J. Folwell R. Wample Cooperative Extension College of Agriculture and Home Economics Washington State University Pullman, Washington

THE ECONOMICS OF ESTABLISHING AND OPERATING A CONCORD GRAPE VINEYARD By Joseph G. Schimmel, Raymond J. Folwell, and Robert Wample* *Respectively, Research Associate and Professor, Department of Agricultural Economics, Agricultural and Home Economics Research Center, College of Agriculture and Home Economics, Washington State University, Pullman, WA, and Extension Horticulturist, Washington State University-Irrigated Agriculture Research and Extension Center, Prosser, WA. The authors wish to acknowledge Lloyd Porter of National Grape Cooperative for his help.

1 Introduction Washington ranks first in the total production of Concord grapes. More than one-third of the u.s. production comes from Washington State (Washington Grape Report, January 20, 1989). Since the introduction of Concord grapes as an agricultural crop in Washington, acreage devoted to Concord vineyards peaked at about 20,525 in 1984. In 1987, there were 19,905 acres of Concords in Washington. The majority of Concord grape vineyard acres were planted prior to the mid-1970s. However, recent interest in the Japanese market and other Pacific-rim markets suggests a renewed interest in planting Concord grapes. Total Concord grape acreage in Washington has remained essentially the same since 1978 because of low prices received by growers. Actual prices paid to all growers are not known because of the role of cooperatives in the industry. However, it is possible to judge price movements via changes in the cash price. From 1974 to 1984, the average cash price for Concord grapes decreased from $159/ton to $80/ton for 16 brix grapes. Recently, the price has increased. In 1988, Concord growers received $205 per ton as their output was over one-third less than 1987. There was new strength in the wholesale price since the 1988 marketing year and the resulting 1989 cash price is $240 per ton. Coupled with the interests in export markets, the higher prices received for Concord grapes will motivate Concord grape growers to consider increasing their plantings. The purpose of this study was to estimate the economic costs of developing and operating a Concord grape vineyard in Washington during 1989. Concord grapes are a perennial which do not reach full production until about the fifth year after planting. Hence, large capital outlays must be made prior to this time. To estimate the economic costs of developing a vineyard, this study specifically sought to: 1. Specify the viticultural practices normally followed in Washington to establish and maintain a 30-acre vineyard of Concord grapes. 2. Estimate the costs of those practices and compare them with the receipts from the grapes to establish profitability levels.

2 3. Calculate the break-even prices necessary to justify the development of the vineyard. Several points need to be clarified about the approach used in this study. There are two general types of budgets. The first type, referred to as cash budgets, consists of cash costs plus depreciation. The second type of budget is referred to as an economic budget. Economic budgets are used in this study because they reflect the full costs and returns over the useful life of assets. The costs in the budgets (economic) include both cash and noncash. Noncash costs include opportunity costs, i.e,. opportunities in other investments which can be thought of as foregone income. Total costs and returns are important in determining profitability and are useful for those contemplating entering or exiting the industry. Costs may also be categorized as fixed and variable. production. Fixed costs are those costs that are incurred despite the level of Land tax is an example of a fixed cost. Variable costs are those such as harvest labor, which differ depending on the level of production. Finally, the production information used to formulate the budgets is not a guide to recommended viticultural practices, but rather is intended to represent a typical vineyard and the costs associated with its development. The budgets reflect costs which are based on these assumed growing conditions. Budget Assumptions The major assumptions used to calculate the vineyard costs were: 1. A 30-acre Concord grape vineyard is to be developed on a 40-acre owner-operator farm with 5 acres of headland and 5 acres of homestead. 2. The vineyard is planted with No. 1 certified Concord grape nursery stock. 3. The vineyard is managed by the owner-operator whose annual salary is equivalent to 7% of average gross revenues of an established vineyard. This salary is referred to as a management fee in the budgets.

4. A solid-set sprinkler irrigation system is used on relatively 3 level ground. The irrigation system and its 20-horsepower motor /pump are purchased new and depreciated over a 10-year period. 5. The grapes are planted with an 8 x 9 foot spacing with 605 plants per acre. 6. All grape hauling is done on a custom basis. 1 The grapes are hauled over a distance of 20 miles. The WUTC rate for this distance is $12 per ton, given a minimum load weight of 15,000 pounds. 7. Establishment costs are amortized over 25 years at 12% interest. They consist of total costs in the 4 years of establishment minus the receipts for the third- and fourth-year crops. The amortization factor is 0.1275. Multiplication of yearly establishment costs by this factor equals the depreciation and interest on the yearly investment. Amortized establishment costs are shown by year in the itemized cost tables. 8. The 1989 irrigation water charge of $42 per acre which is derived from charges used in the Roza Irrigation District. 9. The electrical rate for the irrigation system is derived from the Benton County PUD. The 1989 facility charge is $7 per horsepower. The energy charge is $0.0231 per kilowatt hour (kwh) during March 21 to August 20, and $0.0349 per kwh during August 21 to March 20. An energy credit of $0.0046 per kwh is used for the period between March 21 and October 20. In calculating the total energy cost for the solid-set irrigation system it was assumed that 85% of the irrigation takes place in 1 custom hauling charges are based on Item 561 of Washington Utilities and Transportation Commission Tariff 4-A, a special commodity tariff. It covers the movement of fresh fruits and vegetables when shipped on flatbed trailers or vans, neither of which require temperature control. For fresh fruit and vegetables, when shipped on straddle carriers only, in and between Yakima, Benton, and Franklin Counties for distances not to exceed 100 miles Item 563 of WUTC Tariff 4-A must be used.

4 the first period (3/21 to 8/20) and 15% in the second period (8/21 to 3/20). The respective electricity use in the first and second years is 40% and 70% of the kwh used in year three and thereafter. 10. The real estate taxes are for Benton and Yakima Counties in 1989. The assessments vary depending on the age of the vineyard. The first-year real estate tax is $23.40 per acre for the land and irrigation system. The second and third year real estate taxes rise to $46.16 per acre to include the vines and the trellis system. For the fourth year and all remaining years, the real estate taxes are $56.55 per acre reflecting that the vineyard is near or at full production. 11. All land is assumed to be owned by the operator, operating capital costs 12%, and investment capital is charged at 12%. These rates are assumed to represent the average interest rates during the establishment period. 12. All machinery and equipment is assumed to be new and valued at current market prices (Appendix Table A). Hourly fixed costs (depreciation, interest, insurance, taxezxs and housing) and variable costs (repairs, fuel and lubrication) are calculated by the Farm Enterprise Budget Simulator (FEBS) according to EB 1055, "The Costs of Owning and Operating Farm Machinery in Washington." 13. Personal property taxes from Benton and Yakima Counties in 1989 are estimated to be 1.3% of average value ($13.00 per $1,000 of value). 14. Vines are pruned on a custom basis of $0.2067 per vine. 15. A bilateral cordon training system with a vertical trellis is used.

16. The 1989 prices for selected inputs (including sales tax) are: 5 Labor Gasoline Diesel Nitrogen Fertilizer: (Ammonium Nitrate) Surflan 4AS/gal (Oryzalin) Dormant Oil Parathion (8 EC) Roundup (Glyphosate) Cover Crop Seal (Companion) #11 Wire HT Concrete Anchor 8"x8"x8" Trellis Post 4"x8' $ 5.00/hour $ 1.139/gallon $ 1. 02 9 I gallon $ 0.12/pound $6/gallon $ 2.44/gallon $32.18/gallon $68.65/gallon $ 1. 79 /pound $ 0.50/pound $ 0.61/each $ 3.87/each 17. The vineyard yields 3 tons of grapes per acre in the third year, 5 tons in the fourth year, and 7 tons at maturity in year five. The grapes are sold for $250 per ton. Annual Establishment Costs for a 30-Acre Concord Grape Vineyard The first four years in the development of a grape vineyard are devoted to preparing the vineyard for its productive life of about 25-30 years. In addition to working the land, planting the vines, installing the trellis system, and other preparatory activities, routine viticultural practices are also performed. The costs of these activities are detailed and discussed in the remainder of this section. First-Year Establishment Costs The activities and corresponding per-acre costs in the first year of the vineyard's development are detailed in Table 1. Table 2 shows the itemized costs of the operations as well as the quantities of the materials used. Once the soil is prepared to receive the vines and the land is surveyed to mark the rows, the solid-set irrigation system is installed. The solid-set irrigation system is depreciated over a 10-year period. The total fixed cost (depreciation, tax, interest, and insurance) of the system on a per-acre basis is $249.08 which was estimated with the aid of EB 1166, "Estimated Irrigation and Sprinkler System Costs." Water is applied from April through October.

6 Vines are planted using a mechanical vine planter pulled by a 100- horsepower tractor. The planter is rented for $5 per acre and the tractor with driver are rented for $25 per acre. Two laborers are used on the planter for a total of 2. 75 hours per acre. Each acre is planted with 605 #1 certified Concord vines. Weed management activities (chemical application, cultivation, and three hand hoeings) dominate the summer months. A rotovator is used to prepare the soil for the perennial cover crop which is planted in late July and mowed in September. Endposts and anchors are installed for the trellis system in the fall. The remainder of the trellis system is installed in the second year. A number of the annual and seasonal costs require explanation. The net land rent of $125 can be considered an opportunity cost in terms of income foregone by investing in the Concord grape vineyard. 2 The net land rent of $125 per acre represents a minimum return of 5% of the land cost which is assumed to be $2,500 per acre. It is assumed the land could have been rented for this amount minus the real estate taxes. The interest on operating capital is included to account for the cost of the money expended during the year. In the first year, each acre requires 31.65 hours of operator and hired labor. The total cost per acre in the first year is $1,728.87. Second-Year Establishment Costs The second-year has the highest annual cost. The schedule of operations and itemized cost summary are shown in Tables 3 and 4, respectively. The total cost per acre for the second year is $3,376.21. 2 while the owner-operator will not actually experience a land rental cost, the net land rent represents the mini mum returns the owner-operator must have to justify growing this crop on the land himself. The net rental return represents the income the owner-operator forgoes by producing this crop in the land himself rather than renting it to a tenant. As a result of investing his capital in land, the farmer receives both current returns from his crop production activities and any long-term land value appreciation. However, the farmer would continue to receive land value appreciation even if the land were rented out. Consequently, the appropriate land charge for growing the crop himself is only the net rent lost. As used in this publication, the land cost is termed an opportunity cost to indicate that it is not an out-of-pocket expense, but rather a return that is foregone. To consider the profitability of crop production relative to other activities, the owner-operator will want to consider these foregone returns, or opportunity costs, along with the usual production expense.

7 The installation of the trellis system is completed in March. Trellis posts are the major cost item in the second year. Line posts are installed with one post between every other vine. Two wires are strung along the posts, one on the top and one at the midsection. Many labor-intensive activities bring the second-year labor requirement to 82.90 hours per acre. Most of the labor is involved with summer training. The vines are pruned in the spring and trained during the summer Ten percent of the vines need to be replaced and the new vines are planted by hand. Beginning in the second year, an interest on accumulated investment cost is incorporated in the budget. This accounts for interest actually paid on borrowed money or the interest that could have been earned in an alternative investment. The amount is based on the previous year's expenses. Third-Year Establishment Costs The operations and detailed costs during the third year of the vineyard's development are shown in Tables 5 and 6, respectively. The total cost per acre is $1,951.40. In the fall of the third year, 3 tons of grapes are harvested which generates $750 of revenue per acre. An insect control program is begun in the third year which involves the application of 4 gallons of dormant oil per acre. The pruning and training of the vines is continued. The annual labor budgeted in the third year is 19.14 hours per acre. Fourth-Year Establishment Costs The operations in the fourth year of establishment largely consist of routine viticultural practices since the vineyard is nearly established and the trellis system is in place. The operation costs are shown in Table 7. A detailed list of inputs is presented in Table 8. Seventeen and two-thirds hours of operator and hired labor are budgeted per acre in the fourth year. In the fourth year the vineyard produces 5 tons of grapes per acre which are mechanically harvested at a custom rate of $150 per acre. Pruning, insect

8 control, weed control, and vine training are continued in the fourth year. The total cost of the vineyard operations is $2,126.25 per acre. Summary of Establishment Costs The per-acre cost of establishing the Concord vineyard, the revenue obtained from the grapes, and the next investment are summarized in Table 9. In each establishment year, total costs exceed total revenues yielding a negative return and positive net investment cost. Any changes in yields, prices, or operations will also change the net investment cost. To determine the total cost of establishing a 30-acre vineyard of Concord grapes, the $7,182.72 per acre net investment cost is multiplied by 30 acres which yields $215,481.60. This figure does not include the cost of housing that may be needed for the manager, owner, or laborers. Production Costs and Break-Even Prices for a Mature 30-Acre Concord Grape Vineyard It is assumed by the fifth year after planting the vineyard is at full production and produces a yield of 7 tons of Concord grapes per acre. This section summarizes the costs of producing the grapes and shows the farm level price necessary for profitable Concord grape production. Mature Vineyard Costs The per-acre total cost associated with maintaining a 30-acre Concord grape vineyard is $2,433.05 (Tables 10 and 11). The total revenue, assuming a 7-ton yield and $250 per ton, is $1,750 per acre. Operator and hired labor requirements amount to 16.95 hours per acre for the established vineyard. Thus, the vineyard produces a net loss, i.e., return to risk after all other costs have been paid of $683.05. The amortized establishment cost, which includes interest and all other establishment costs, is the single largest cost at $915.80 per acre.

9 Break-Even Prices The break-even selling prices for Concord grapes necessary to cover different costs at various yields are presented in Table 12. The break-even selling price to cover variable costs represents the price that must be received to cover the costs that occur only if the crop is produced and harvested. If the actual price is less _than this break-even price, the vineyard is an uneconomical investment in the short run. Short-run break-even prices range from $65.29 per ton at 15 tons per acre yield to $326.46 per ton for a vineyard yielding three tons per acre. For example, the variable costs of a vineyard yielding 7 tons per acre will be covered with a selling price of $139.91 per ton. The break-even selling price for total costs represents the price that must be received in order for the vineyard to cover costs and stay in business over the long run. In a mature vineyard, nearly 60% of the total costs per acre are fixed costs, i.e., costs incurred regardless of the level of production. This means that the break-even prices to cover total cost is much higher than the break-even prices to cover variable costs. If the price received is less than this break-even price, an alternative investment should be pursued which produces a larger return to management, labor, land, and capital. If the actual price is greater than this break-even price, the operator covers all costs and earns a premium for the risk involved with operating the vineyard. Break-even prices range from $162.20 per ton for a vineyard yielding 15 tons per acre to $811.02 per ton for a vineyard yielding 3 tons per acre. The yield assumed in this budget (7 tons per acre) requires a selling price of $347.58 per ton to cover total cost. This is $97.58 per ton more than the price assumed in preparing this budget. From a break-even yield perspective, at the prevailing price of $250 per ton, the established vineyard must yield about 10 tons per acre to break even in the long run. Conclusions The establishment of a perennial crop such as a Concord grape vineyard has many costs before a crop is produced. These costs must be recovered in the

10 productive years. Based on the assumptions of the vineyard used for this study, the establishment of a 30-acre Concord vineyard in Washington would be unprofitable given current prices and historical yields. It is recognized that costs vary widely from farm to farm. Viticulturalists can be very efficient in their production techniques which, in turn, may lower costs substantially. Thus, this study should not be generalized to vineyard practices outside the assumptions used in the study. It does, however, provide a benchmark from which the economic health of Concord grape vineyards may be established. References Bauscher, Lonny D. and Gayle s. Willett (1986). The Cost of Owning and Operating Farm Machinery in Washington. EB 1055, Cooperative Extension, Washington State University. Folwell, Raymond J. and Mark Grassel ( 1988). Grape Acreaqes and Prices in Washington. XB 1005, Agricultural Research Center, Washington State University. Washington Agricultural Statistics Service. Washington Grape Report. USDA and Washington State Department of Agriculture, Olympia, Washington, Jan. 20, 1989. Willett, Gayles., Richard W. Dunford, and M. Anthony Wirth (1982). Estimating Irrigation Pumping and Sprinkler System Costs. EB 1166, Cooperative Extension, Washington State University.

Table 1. Schedule of First-Year Establishment Operations and Per Acre Costs for a 30-Acre Concord Grape Vineyard. VARIABLE COST --------------------------------------- TOTAL FUEL, TOTAL MACH LABOR FIXED LUBE, & MACH VARIABLE TOTAL OPERATION TOOLING MTH YEAR HOURS HOURS COST REPAIRS LABOR SERVICE MATER. INTER. COST COST $ $ $ $ $ $ $ $ DISK 50 HP, DISK FEB 1989.57.69 5.31 4.42 3.45.00.00.63 8.50 13.81 PLO\.I CUSTOM PLOIJING MAR 1989.00.00.00.00.00 24.55.00 1. 72 26.27 26.27 SURVEY & MARK LABOR, STAKES MAR 1989.00.40.00.00 2.00.00 1.44.24 3.68 3.68 LISTING CUSTOM Ll STING APR 1989.00.00.00.00.00 24.55.00 1.47 26.02 26. 02 PLANT VINES 100HP VINE PLANTER, LABOR APR 1989.00 2.75.00.00 13.75 30.00 273.16 19.01 335.92 335.92 FILL-IN 50 HP, DISK (3X) APR 1989 1. 72 2.08 16.03 13.33 10.40.00.00 1.42 25.15 41.19 IRRIGATION SYSTEM START-UP APR 1989.00.80.00.00 4.00.00.00.24 4.24 4. 24 HOEING HAND HOEING JUN 1989.00 2.00.00.00 10.00.00.00.40 10.40 10.40 IJEED CONTROL 50 HP, SPRAYER JUN 1989.46.55 7.75 3.40 2.75.00 24.40 1.22 31.77 39.53 CULTIVATE 50 HP, DISK JUN 1989.57.69 5.31 4.42 3.45.00.00.31 8.18 13.50 PLANT COVER CROP 50 HP, RENTED SEEDER JUL 1989.57.69 4.34 3.54 3.45 5.00 21.48 34.48 38.81 HOEING HAND HOEING JUL 1989.00 2.00.00.00 10.00.00.00.30 10.30 10.30 ROTOVATE 50 HP, ROTOVATOR JUL 1989.57.69 6.40 5.45 3.45.00.00.27 9.17 15.57 HOEING HAND HOEING AUG 1989.00 2.00.00.00 10.00.00.00.20 10.20 10.20 MOIJ COVER CROP 50 HP, MO\.IER SEP 1989.43.52 3.86 3.13 2.60.00.00.06 5.79 9.65 IRRIGATION SYSTEM SHUT-DOIJN OCT 1989.00.80.00.00 4.00.00.00.00 4.00 4.00 SPREAD ENDPOSTS 50 HP, TRAILER OCT 1989.46.56 6.55 3.59 2.80.00 61.92.00 68.31 74.86 SET ANCHORS 50 HP, RENTALS, LABOR OCT 1989 2.25 2.72 17. 1 1 13.99 13.60 2.80 109.76.00 140. 15 157.26 SET ENDPOSTS 50 HP, RENTALS, LABOR OCT 1989 4.75 5.75 36.13 29.53 28.75 7.00.00.00 65.28 101.41 MANAGEMENT FEE 7% OF GROSS REVENUE ANN 1989.00.00.00.00.00 122.50.00 7.35 129.85 129.85 TAXES REAL ESTATE ANN 1989.00.00 23.40.00.00.00.00.00.00 23.40 IRRIGATION IRRIGATE APRIL-OCTOBER SEA 1989.00 249.08.00 5.00 65.33.00 4.22 74.55 323.63 PICKUP MISCELLANEOUS USE SEA 1989 3.60 3.96 53.22 38.27 19.80.00.00 3.48 61.55 114.77 4 IJHEEL CYCLE MISCELLANEOUS USE SEA 1989.91 4.16 2.39 5.00.00.00.44 7.83 11.99 LAND NET LAND RENT SEA 1989.00.00 125.00.00.00.00.00.00.00 125.00 MISCELLANEOUS UTILITIES, TELEPHONE, ETC. SEA 1989.00.00.00.00.00 60.00.00 3.60 63.60 63.60 TOTAL PER 16.86 31.65 563.67 125.46 158.25 341.73 492.16 47.60 1165.20 1728.87

Table Z. VARIABLE COSTS CUSTOM PL()\JING SURVEY STAKES CUSTOM LISTING PLANTER RENTAL TRACT&DRVR RENT NURSERY STOCK SURFLAN 4AS/GAL SEEDER RENTAL COMPANION SEED TRELLIS POST POST DIGGER CONCRETE ANCHOR #11 HT \JIRE POSTDRIVER RENT Detailed First-Year Establishment Per Acre Costs for a 30-Acre Concord Grape Vineyard. MGMT. FEE IRR REPAIRS IRR ELECT (Y1) IRR \JATER MISCELLANEOUS INTEREST ON OP. CAP. TRACTOR REPAIR TRACTOR FUEL/LUBE MACHINERY REPAIRS MACHINE FUEL/LUBE LABOR(TRAC/MACH) PRICE OR VALUE OR YOUR UNIT COST/UNIT QUANTITY COST FARM EACH EACH GAL. LBS. EACH. EACH LBS.. DOL. TOTAL VARIABLE COST PER $ 24.55.06 24.55 5.00 25.00.45 6 5.00 1. 79 3.87 2.80.61.so 7.00 122.50 8.81 14.52 42.00 60.00.12 14.75 65.01 20.93 24.n 158.25 24.00 605.00.40 12.00 16.00 16.00 200. 00 396.69 $ 24.55--- 1.44--- 24.55--- 5.00--- 25.00--- 273.16--- 24.40--- 5.00--- 21.48--- 61.92--- 2.80--- 9.76--- 100.00--- 7.00--- 122.50 --- 8.81--- 14.52--- 42.00---- 60.00--- 47.60--- 14.75--- 65.01 ---- 20.93--- 24.n --~:~:~: --- 1165.20--- FIXED COSTS TRACTOR DEPRECIATION TRACTOR INTEREST TRACTOR INSURANCE TRACTOR TAXES TRACTOR HOUSING MACHINE DEPRECIATION MACHINE INTEREST MACHINE INSURANCE MACHINE TAXES MACHINE HOUSING REAL ESTATE TAX (Y1) IRR EQUIPMENT NET LAND RENT TOTAL FIXED COST PER $ 41.84 46.11 3.46 5.00 1.15 24.16 25.65 13.69 2.78 2.34 23.40 249.08 125.00 $ 41.84--- 46.11 --- 3.46--- 5.00--- 1.15 24.16--- 25.65--- 13.69--- 2.78--- 2.34--- 23.40 249.08--- --~~::~~ --- 563.67--- ~~~~~-:~~~-~~~-~:~~------------------------------ - ~:~~:~:_- -_-_

Table 3. Schedule of Second Year Establishment Operations and Per Acre Costs for a 30 Acre Concord Grape Vineyard. VARIABLE COST --------------------------------------- TOTAL FUEL, TOTAL MACH LABOR FIXED LUBE, & MACH VARIABLE TOTAL OPERATION TOOLING MTH YEAR HOURS HOORS COST REPAIRS LABOR SERVICE MATER. INTER. COST COST s s s s s $ $ $ SPREAD LINEPOSTS 50 HP, TRAILER MAR 1990.92 1. 11 13.11 7.18 5.55.00 1137.78 80.54 1231.04 1244.15 SET LINEPOSTS 50 HP, RENTALS, LABOR MAR 1990 10.00 12.10 76.06 62.17 60.50 7.00.00 9.08 138.75 214.81 STRING \.lire 50HP, TRAILER, LABOR MAR 1990.92 13.10 13.11 7.18 65.50.00 195.21 18.75 286.64 299.75 PRUNING LABOR, SHEARS, TIES MAR 1990.00.00.00.00.00 125.05 80.92 14.42 220.39 220.39 IRRIGATION SYSTEM START UP APR 1990.00.80.00.00 4.00.00.00.24 4.24 4.24 FERT ILl ZE 50 HP,FERTILIZER SPREADER RENT APR 1990.76.92 5.78 4.73 4.60 2.15 6.00 1.05 18.52 24.30 HOEING HAND HOEING APR 1990.00 2.00.00.00 10.00.00.00.60 10.60 10.60 \.IEED CONTROL 50 HP, SPRAYER APR 1990.46.55 7.75 3.40 2.75.00 24.40 1.83 32.39 40.14 REPLANT (10%) HAND PLANTING APR 1990.00 7.00.00.00 35.00.00 27.09 3.73 65.82 65.82 HOEING HAND HOEING MAY 1990.00 2.00.00.00 10.00.00.00.50 10.50 10.50 MO\ol COVER CROP 50 HP, MO\.IER MAY 1990.43.52 3.86 3.13 2.60.00.00.29 6.02 9.88 SUMMER TRAINING LABOR JUL 1990.00 35.00.00.00 175.00.00.00 5.25 180.25 180.25 M0\.1 COVER CROP 50 HP, MO\.IER JUL 1990.43.52 3.86 3.13 2.60.00.00.17 5.90 9.76 M0\.1 COVER CROP 50 HP, MO\.IER SEP 1990.43.52 3.86 3.13 2.60.00.00.06 5.79 9.65 IRRIGATION SYSTEM SHUT DO\.IN OCT 1990.00.80.00.00 4.00.00.00.00 4.00 4.00 TAXES REAL ESTATE ANN 1990.00.00 46.16.00.00.00.00.00.00 46.16 MANAGEMENT FEE 7% OF GROSS REVENUE ANN 1990.00.00.00.00.00 122.50.00 7.35 129.85 129.85 ESTABLISH COST INTEREST ON ACCUMULATED INVEST SEA 1990.00.00 207.46.00.00.00.00.00.00 207.46 MISCELLANEOUS UTILITIES, TELEPHONE, ETC. SEA 1990.00.00.00.00.00 60.00.00 3.60 63.60 63.60 LAND NET LAND RENT SEA 1990.00.00 125.00.00.00.00.00.00.00 125.00 4 \.IHEEL CYCLE MISCELLANEOUS USE SEA 1990.91 4.16 2.39 5.00.00.00.44 7.83 11.99 PICKUP MISCELLANEOUS USE SEA 1990 3.60 3.96 53.22 38.27 19.80.00.00 3.48 61.55 114.77 I RRI GAT ION IRRIGATE APRIL-OCTOBER SEA 1990.00 249.08.00 5.00 70.52.00 4.53 80.05 329.13 TOTAL PER 18.86 82.90 812.48 134.70 414.50 387.22 1471.40 155.90 2563.73 3376.21

Table 4. Detailed Second-Year Establishment Per Acre Costs for a 30-Acre Concord Grape Vineyard. VARIABLE COSTS TRELLIS POST POSTDRIVER RENT #11 HT IJIRE PRUNING QUIP LABOR PRUNING PRUNING EQUIP TIJINE FERT SPRDR RENT NITROGEN SURFLAN 4AS/GAL NURSERY STOCK MGMT. FEE MISCELLANEOUS IRR ELECT (Y2) IRR REPAIRS IRR IJATER INTEREST ON OP. CAP. TRACTOR REPAIR TRACTOR FUEL/LUBE MACHINERY REPAIRS MACHINE FUEL/LUBE LABOR(TRAC/MACH) PRICE OR VALUE OR YOUR UNIT COST/UNIT QUANTITY COST FARM EACH LBS. VINE FOOT LBS. GAL. EACH... DOL.. TOTAL VARIABLE COST PER FIXED COSTS TRACTOR DEPRECIATION TRACTOR INTEREST TRACTOR INSURANCE TRACTOR TAXES TRACTOR HOUSING MACHINE DEPRECIATION MACHINE INTEREST MACHINE INSURANCE MACHINE TAXES MACHINE HOUSING REAL ESTATE TAX (Y2) INT INVEST (Y1) NET LAND RENT IRR EQUIPMENT TOTAL FIXED COST PER s 3.87 7.00.50 1.06.21 1.06.03 2.15.12 6.45 122.50 60.00 19.71 8.81 42.00.12 16.91 74.54 18.48 24.77 414.50 s 47.98 52.88 3.97 5.73 1.32 26.18 27.74 13.79 3.01 2.19 46.16 1728.87 125.00 249.08 294.00 3n.4o 8.50 605.00 2420.00 50.00.40 60.00 1299.20.12 s 1137.78--- 7.00--- 186.20--- 9.01 ---- 125.05--- 1.06--- 79.86--- 2.15--- 6.00---- 24.40--- 27.09 122.50 -_::::: 60.00--- 19.71 8.81 42.00 155.90--- 16.91 74.54--- 18.48--- 24.77 414.50--- 2563.73--- s 47.98--- 52.88--- 3.97 5.73--- 1.32--- 26.18--- 27.74---- 13.79--- 3.01--- 2.19--- 46.16 207.46--- 125.00--- 249.08--- 812.48---

Table 5. Schedule of Third-Year Establishment Operations and Per Acre Costs for a 30-Acre Concord Grape Vineyard. VARIABLE COST --------------------------------------- TOTAL FUEL, TOTAL MACH LABOR FIXED LUBE, & MACH VARIABLE TOTAL OPERATION TOOLING MTH YEAR HOURS HOURS COST REPAIRS LABOR SERVICE MATER. INTER. COST COST s s s $ s s $ $ PRUNING LABOR, SHEARS, TIES MAR 1991.00.00.00.00.00 125.05 9.05 9.39 143.49 143.49 INSECT CONTROL 50 HP, SPRAYER MAR 1991.46.55 7.75 3.40 2.75.00 9.76 1.11 17.03 24.78 I RR I GAT ION SYSTEM START-UP APR 1991.00.80.00.00 4.00.00.00.24 4.24 4.24 '.IEED CONTROL 50 HP, SPRAYER APR 1991.46.55 7.75 3.40 2.75.00 24.40 1.83 32.39 40.14 FERT ILl ZE SOHP, FERTILIZER SPREADER RENT APR 1991.76.92 5.78 4. 73 4.60 2.15 9.00 1.23 21.70 27.48 MO'W COVER CROP 50 HP, MO'WER MAY 1991.43.52 3.86 3.13 2.60.00.00.29 6.02 9.88 HOEING HAND HOEING JUN 1991.00 2.00.00.00 10.00.00.00.40 10.40 10.40 SUMMER TRAINING LABOR JUL 1991.00 6.00.00.00 30.00.00.00.90 30.90 30.90 MO'W COVER CROP 50 HP, MO'WER JUL 1991.43.52 3.86 3.13 2.60.00.00.17 5.90 9.76 MO'.I CUVER CROP 50 HP, MO'WER SEP 1991.43.52 3.86 3.13 2.60.00.00.06 5. 79 9.65 HARVEST CUSTOM MECHANICAL HARVEST OCT 1991.00.00.00.00.00 150.00.00.00 150.00 150.00 HAULING CUSTOM HAULING OCT 1991.00.00.00.00.00 36.00.00.00 36.00 36.00 IRRIGATION SYSTEM SHUT DO'.IN OCT 1991.00.80.00.00 4.00.00.00.00 4.00 4.00 MANAGEMENT FEE 7% Of GROSS REVENUE ANN 1991.00.oo.00.00.00 122.50.00 7.35 129.85 129.85 TAXES REAL ESTATE ANN 1991.00.00 46.15.00.00.00.00.00.00 46.15 LAND NET LAND RENT SEA 1991.00.00 125.00.00.00.00.00.00.00 125.00 MISCELLANEOUS UTILITIES, TELEPHONE, ETC. SEA 1991.00.00.00.00.00 60.00.00 3.60 63.60 63.60 ESTABLISH COST INTEREST ON ACCUMULATED INVEST SEA 1991.00.00 612.61.00.00.00.00.00.00 612.61 4 '.IHEEL CYCLE MISCELLANEOUS USE SEA 1991.91 4.16 2.39 5.00.00.00.44 7.83 11.99 IRRIGATION IRRIGATE APRIL TO OCTOBER SEA 1991.00 249.08.00 5.00 87.10.00 5.53 97.63 346.71 PICKUP MISCELLANEOUS USE SEA 1991 3.60 3.96 53.22 38.27 19.80.00.00 3.48 61.55 114.77 TOTAL PER 7.48 19.14 1123.10 61.57 95.70 582.80 52.21 36.02 828.30 1951.40

Table 6. Detailed Third-Year Establishment Per Acre Costs for a 30-Acre Concord Grape Vineyard. PRICE OR VALUE OR YOUR UNIT COST/UNIT QUANTITY COST FARM ------------------------------------------------------------------ VARIABLE COSTS LABOR PRUNING VINE PRUNING EQUIP HIINE.. FOOT DORMANT OIL GAL. SURFLAN 4AS/GAL GAL. FERT SPRDR RENT NITROGEN LBS. MECH. HARV CY3) CUSTOM HAULING TON MGMT. FEE MISCELLANEOUS IRR ELEC (Y3+) IRR IIATER IRR REPAIRS INTEREST ON OP. CAP. DOL. TRACTOR REPAIR TRACTOR FUEL/LUBE MACHINERY REPAIRS MACHINE FUEL/LUBE LABOR(TRAC/MACH) TOTAL VARIABLE COST PER FIXED COSTS TRACTOR DEPRECIATION TRACTOR INTEREST TRACTOR INSURANCE TRACTOR TAXES TRACTOR HOUSING MACHINE DEPRECIATION MACHINE INTEREST MACHINE INSURANCE MACHINE TAXES MACHINE HOUSING REAL ESTATE(Y3) NET LAND RENT!NT INVEST (Y2)!NT INVEST (Y1) IRR EQUIPMENT TOTAL FIXED COST PER s.21 1.06.03 2.44 6 2.15. 12 150.00 12.00 122.50 60.00 36.29 42.00 8.81.12 3.67 16.17 16.96 24.77 95.70 s 10.41 11.47.86 1.24.29 23.26 24.17 13.62 2.62 2.33 46.15 125.00 3376.21 1728.87 249.08 605.00 242.00 4.00.40 75.00 3.00 300.18.12.12 s 125.05 --- 1.06--- 7.99--- 9.76--- 24.40--- 2.15--- 9.00 150.00--- 36.00 122.50--- 60.00--- 36.29--- 42.00--- 8.81--- 36.02--- 3.67---- 16.17--- 16.96--- 24.77---- ---~~::~ --- 828.30--- s 10.41 --- 11.47---.86 1.24---.29 23.26--- 24.17--- 13.62--- 2.62--- 2.33--- 46.15 125.00 --- 405.15 --- 207.46--- --~:~:~~ --- 1123.10--- ~~~~~-~~~~-~~~-~~~~-------------------------------~~~~::~-------.-_- -_

Table 7. Schedule of Fourth-Year Establishment Operations and Per AcreCosts for a 30-Acre Concord Grape Vineyard. VARIABLE COST ------------------------- -- --- --------- TOTAL FUEL, TOTAL MACH LABOR FIXED LUBE, & MACH VARIABLE TOTAL OPERATION TOOLING MTH YEAR HOURS HOURS COST REPAIRS LABOR SERVICE MATER. INTER. COST COST -- ------------------- -------------------------- ---- ---------------------------------- ------------------------------- --------------- ----- - s s $ $ $ $ $ $ PRUNING LABOR, SHEARS, TIES FEB 1992.00.00.00.00.00 125.05 2.21 10.18 137.44 137.44 CHOP PRUNINGS 50HP, MOllER FEB 1992.43.52 3.86 3.13 2.60.00.00.46 6.19 10.05 INSECT CONTROL 50 HP, SPRAYER MAR 1992.46.55 7. 75 3.40 2.75.00 9.76 1.11 17.03 24.78 IRRIGATION SYSTEM START -UP APR 1992.00.80.00.00 4.00.00.00.24 4.24 4. 24 FERT ILl ZE 50HP, FERTILIZER SPREADER RENT APR 1992.76.92 5.78 4.73 4. 60 2.15 12.00 1.41 24.88 30.66 MOll COVER CROP 50HP, MOllER MAY 1992.43.52 3.86 3.13 2.60.00.00.29 6.02 9.88 HOEING HAND HOEING JUN 1992.00 2.00.00.00 10.00.00.00.40 10.40 10.40 IIEED CONTROL 50 HP, SPRAYER JUN 1992.46.55 7.75 3.40 2.75.00 24.40 1.22 31.77 39. 53 MOll COVER CROP 50 HP, MOllER JUL 1992. 43.52 3.86 3.13 2. 60.00.DO.17 5.90 9. 76 SUMMER TRAINING LABOR JUL 1992.00 4.00.00.00 20.00.00.DO.60 20.60 20.60 MOll COVER CROP 50 HP, MOllER SEP 1992.43.52 3.86 3.13 2.60.00.00.06 5.79 9.65 IRRIGATION SYSTEM SHUT-DOilN OCT 1992.00.80.00.00 4.00.00.00.00 4.00 4.00 HARVEST CUSTOM MECHANICAL HARVESTING OCT 1992.00.00.00.00.00 150.00.00.00 150.00 150.00 HAULING CUSTOM HAULING OCT 1992.00.00.00.00.00 60.00.00.00 60.00 60.00 MANAGEMENT FEE r1. OF GROSS REVENUE ANN 1992.00.00.00.00.00 122.50.00 7.35 129.85 129.85 TAXES REAL ESTATE ANN 1992.00.00 56.55.00.00.00.00.00.00 56.55 IRRIGATION IRRIGATE APRIL TO OCTOBER SEA 1992.00 249.08.00 5.00 87.10.00 5.53 97.63 346.71 PICKUP MISCELLANEOUS USE SEA 1992 3.60 3.96 53. 22 38.27 19.80.00.00 3.48 61.55 114.77 4 IIHEEL CYCLE MISCELLANEOUS USE SEA 1992.91 4.16 2.39 5.00.00.00.44 7.83 11.99 LAND NET LAND RENT SEA 1992.00.00 125.00.00.00.00.00.00.00 125.00 MISCELLANEOUS UTILITIES, TELEPHONE, ETC. SEA 1992.00.00.00.00.00 60.00.00 3.60 63.60 63.60 ESTABLISH COST INTEREST ON ACCUMULATED INVEST SEA 1992.00.00 756.78.00.00.00.00.00.00 756.78 ---------------------------------------------------------------------------------------------------------- ----- -------------------------- TOTAL PER 7.91 17.66 1281.53 64.70 88.30 606.80 48.37 36.54 844.72 2126.25 -- ------------- -------------- ------ - - ------------- -- - --------------------------------------------------------

Table 8. Detailed Fourth Year Establishment Per Acre Costs for a 30 Acre Concord Grape Vineyard. VARIABLE COSTS LABOR PRUNING PRUNING EQUIP GRAPE TIES DORMANT OIL FERT SPRDR RENT NITROGEN SURFLAN 4AS/GAL MECH HARV (Y4) CUSTOM HAULING MGMT. FEE IRR ELEC (Y3+) IRR IJATER IRR REPAIRS MISCELLANEOUS INTEREST ON OP. CAP. TRACTOR REPAIR TRACTOR FUEL/LUBE MACHINERY REPAIRS MACHINE FUE L/LUBE LABOR(TRAC/MACH) PRICE OR VALUE OR YOUR UNIT COST/UNIT QUANTITY COST FARM VINE GAL. LBS. GAL. TON. DOL. ~CRE TOTAL VARIABLE COST PER $.21 1.06 1.15 2.44 2.15.12 6 150.00 12.00 122.50 36.29 42.00 8.81 60.00.12 4.21 18.57 17.15 24.n 88.30 605.00 4.00 100.00.40 5.00 304.52 $ 125.05 --- 1.06--- 1.15--- 9.76--- 2.15--- 12.00---- 24.40 150.00--- 60.00 122.50 --===== 36.29--- 42.00--- 8.81 ---- 60.00--- 36.54--- 4.21--- 18.57---- 17.15--- 24.n --~:~~ --- 844.72--- FIXED COSTS TRACTOR DEPRECIATION TRACTOR INTEREST TRACTOR INSURANCE TRACTOR TAXES TRACTOR HOUSING MACHINE DEPRECIATION MACHINE INTEREST MACHINE INSURANCE MACHINE TAXES MACHINE HOUSING REAL ESTATE TAX (Y4) IRR EQUIPMENT NET LAND RENT!NT INVEST (Y1)!NT INVEST (Y2) INT INVEST (Y3) TOTAL FIXED COST PER $ 11.95 13.17.99 1.43.33 23.39 24.28 13.62 2.63 2.34 56.55 249.08 125.00 1728.87 3376.21 1201.40.12.12 12 $ 11.95--- 13.17---.99 1.43---.33--- 23.39--- 24.28---- 13.62--- 2.63--- 2.34--- 56.55 249.08 --===== 125.00--- 207.46--- 405.15--- --~~~:~: --- 1281.53--- ~~~~~-~~~~-~~~-~~~~---------- --------------------~~~~=~~-------.-.-.. -.

Table 9. SUliT\ary of 1989 Net Investment Costs in Establishing a 30 Acre Concord Grape Vineyard (S/Acre). Total Establishment Years Establishment Cost Category First Second Third Fourth Cost Receipts: Yields (Tons) 0 0 3 5 8 Price (S/Ton) 250.00 250.00 250.00 250. 00 250.00 Revenue 0.00 o.oo 750.00 1250.00 2000.00 Variable Costs: Preharvest 1,165.20 2,563.73 390.35 382.76 4,502.04 Harvest 0.00 0.00 186.00 210.00 396.00 Postharvest 0.00 o.oo 251.95 251.95 503.90 Total Variable Cost 1,165.20 2,563.73 828.30 844.71 5,401.94 Fixed Costs: 50 HP Tractor 97.56 111.87 24.27 27.87 261.57 Machinery 68.62 n.91 65.99 66.26 273.78 Irrigation 249.08 249.08 249.08 249.08 996.32 Net Land Rent 125.00 125.00 125.00 125.00 500.00 Real Estate Taxes 23.40 46.16 46.16 56.55 172.26 Interest on Accumulated Investment 207.46 612.61 756.78 1,576.85 Total Fixed Cost 563.66 812.48 1,123.10 1,281.54 3,780.78 Total Costs 1, 728.86 3,376.21 1,951.40 2,126.25 9,182.n Net Investment Cost 1, 728.86 3,376.21 1,201.40 876.25 7,182.n

Table 10. Schedule of Operations and Per Acre Costs for an Establ ished 30 Acre Concord Grape Vineyard. 4 ----------------------------------------------------------------------------------------------------------------------------------- VARIABLE COST --- ------- ---- ------------------------- TOTAL FUEL, TOTAL MACH LABOR FIXED LUBE, & MACH VARIABLE TOTAL OPERATION TOOLING MTH YEAR HOURS HOURS COST REPAIRS LABOR SERVICE MATER. INTER. COST COST $ $ $ $ $ $ $ $ PRUNING LABOR, SHEAR, TIES FEB 1993.00.00.00.00.00 125.05 2.21 10.18 137.44 137.44 TRELLIS REPAIR 50 HP, TRAILER, MATERIALS FEB 1993.92 3.11 13.11 7.18 15.55.00 60.80 6.68 90.21 103.32 CHOP PRUNINGS 50 HP, MO\JER MAR 1993.43. 52 3.86 3.13 2.60.00.00.40 6.13 9.99 FERT ILl ZE 50HP, FERTILIZER SPREADER RENT MAR 1993.76.92 5.78 4.73 4.60 2.15 12.00 1.64 25.12 30.90 INSECT CONTROL 50 HP, SPRAYER MAR 1993.46.55 7.75 3.40 2.75.00 9.76 1. 1 1 17.03 24.78 IRRIGATION SYSTEM START UP APR 1993.00.80.00.00 4.00.00.00.24 4.24 4.24 MO~ COVER CROP 50 HP, MO~ER MAY 1993.43.53 3.86 3.13 2.65.00.00.29 6.07 9.93 SPOT ~EED CONTRL 50 HP, SPRAYER JUN 1993.46.55 7.75 3.40 2.75.00 5.15.45 11.75 19.50 HOEING HAND HOEING JUN 1993.00 2.00.00.00 10.00.00.00.40 10.40 10.40 MO~ COVER CROP 50 HP, MO\JER JUL 1993.43.52 3.86 3.13 2.60.00.00 17 5.90 9.76 MO~ COVER CROP 50 HP, MO\JER SEP 1993.43.69 3.86 3.13 3.45.00.00.07 6.64 10.51 IRRIGATION SYSTEM SHUT-DO~N OCT 1993.00.80.00.00 4.00.00.00.00 4.00 4.00 HARVEST CUSTOM MECHANICAL HARVESTING OCT 1993.00.00.00.00.00 210.00.00.00 210.00 210.00 HAULING CUSTOM HAULING OCT 1993.00.00.00.00.00 84.00.00.00 84.00 84.00 MANAGEMENT FEE 7% OF GROSS REVENUE ANN 1993.00.00.00.00.00 122.50.00 7.35 129.85 129.85 TAXES REAL ESTATE ANN 1993.00.00 56.55.00.00.00.00.00.00 56.55 I RR I GAT! ON IRRIGATE APRIL TO OCTOBER SEA 1993.00 249.08.00 5.00 87.10.00 5.53 97.63 346.71 PICKUP MISCELLANEOUS USE SEA 1993 3.60 3.96 53.22 38.27 19.80.00.00 3.48 61.55 114.77 4 ~HEEL CYCLE MISCELLANEOUS USE SEA 1993.91 4.16 2.39 5.00.00.00.44 7.83 11.99 LAND NET LAND RENT SEA 1993.00.00 125.00.00.00.00.00.00.00 125.00 MISCELLANEOUS UTILITIES, TELEPHONE, ETC. SEA 1993.00.00.00.00.00 60.00.00 3.60 63.60 63.60 ESTABLISH COSTS AMORTIZED ESTABLISHMENT COST SEA 1993.00.00 915.80.oo.00.00.00.00.00 915.80 TOTAL PER 8.83 16.95 1453.66 71.88 84.75 690.80 89.92 42.04 979.39 2433.05

Table 11. VARIABLE COSTS LABOR PRUNING PRUNING EQUIP GRAPE TIES TRELLIS MATERIA TRELU S POST FERT SPRbR RENT NITROGEN DORMANT OIL ROUNDUP MECH HARV (Y5+) CUSTOM HAULING Detailed Per Acre Costs for an Established 30-Acre Concord Grape Vineyard. MGMT. FEE IRR ELEC (Y3+) IRR IJATER IRR REPAIRS MISCELLANEOUS INTEREST ON OP. CAP. TRACTOR REPAIR TRACTOR FUEL/LUBE MACHINERY REPAIRS MACHINE FUEL/LUBE LABOR(TRAC/MACH) TOTAL VARIABLE COST PER FIXED COSTS TRACTOR DEPRECIATION TRACTOR INTEREST TRACTOR INSURANCE TRACTOR TAXES TRACTOR HOUSING MACHINE DEPRECIATION MACHINE INTEREST MACHINE INSURANCE MACHINE TAXES MACHINE HOUSING REAL ESTATE TAX (5+) IRR EQUIPMENT NET LAND RENT!NT INVEST (Y1) I NT INVEST (Y2) I NT INVEST (Y3)!NT INVEST (Y4) TOTAL FIXED COST PER PRICE OR VALUE. OR YOUR UNIT COST/UNIT QUANTITY COST FARM s s VINE.21 605.00 125.05 --- 1.06 1.06--- 1.15 1.15--- 2.75 2.75 EACH 3.87 15.00 58.05--- 2.15 2.15 ---- LBS. 12 100.00 12.00--- GAL. 2.44 4.00 9.76--- GAL. 68.65.08 5.15--- 210.DO 210.00--- TON 12.00 7.00 84.00 122.50 122.50--- 36.29 36.29---- 42.00 42.00--- 8.81 8.81 60.00 60.00--- DOL. 12 350.36 5.38 23.70 18.04 24.77 84.75 $ 15.25 16.81 1.26 1.82.42 25.79 26.88 13.75 2.91 2.34 56.55 249.08 125.00 1728.87 3376.21 1201.40 876.25.13.13.13.13 42.04--- 5.38 23.70--- 18.04--- 24.77--- ---~::= --- 979.39--- s 15. 25 ---- 16.81 --- 1.26--- 1.82---.42--- 25.79--- 26.88--- 13.75 2.91 2.34 56.55--- 249.08--- 125.00 ---- 220.43--- 430.47--- 153.18--- --~~~::~ --- 1453.66---

Table 12. Break-Even Selling Prices of Concord Grapes at Various Yields {Tons per Acre). Break-Evens ($/Ton) Necessary to cover Yield Variable Costs Fixed Costs Total Cost 3 326.46 484.55 811.02 4 244.85 363.42 608.26 5 195.88 290.73 486.61 6 163.23 242.28 405.51 7 139.91 207.67 347.58 8 122.42 181.71 304.13 9 108.82 161.52 270.34 10 97.94 145.37 243.31 11 89.04 132.15 221.19 12 81.62 121.14 202.75 13 75.34 111.82 187.16 14 69.96 103.83 173.79 15 65.29 96.91 162.20

Appendix Table A. Equipment Complement for a 30-Acre Concord Grope Vineyard, 1989. YEARS TOTAL FUEL TOTAL PURCHASE TO ANNUAL DEPREC INTER INSUR FIXED AND VARIABLE TOTAL MACHINERY PRICE TRADE HOURS IATION EST ANCE TAXES HOUSING COST REPAIR LUBE COST COST s COST PER HOUR 50 HP TRACTOR 16,193.00 10 350 3.26 3.59.27.39.09 7.61 1.15 5.07 6.22 13.82 3/4 TON PICKUP 13,475.00 10 200 4.75 5.24 3.71.57.52 14.78 4.08 6.55 10.63 25.41 100 CAL. SPRAYER 1,248.00 10 25 4.11 3.53 18.38.29 8.49.56.00.56 9.04 TRAILER 2,156.00 15 50 2.62 2.82.14.31.oo 5.88.96.00.96 6.84 4 1/HEEL CYCLE 2,695.00 10 100 2.19 1.92.10.21.16 4.57 1.31 1.31 2.62 7.19 MO<.IER 730.00 10 200.30.26.01.03.oz.62.44.00.44 1.06 ROTOVATOR (6 FT) 4,033.00 15 zoo 1.22 1.33.07.14.11 2.86 2.73.00 2.73 5.59 DISK (6 ft) 1,347.00 15 200.41.44.02.05.04.96.91.00.91 1.87 --------------- ------------- ----------------------------------------------------------------------------------------------- Issued by Washington State University Cooperative Extension, F.L. Poston, Director, and the U.S. Department of Agriculture in furtherance of the Acts of May 8 and June 30, 1914. Cooperative Extension programs and policies are consistent with federal and state laws and regulations on nondiscrimination regarding race, color, national origin, religion, gender, age, disability, and gender preference. Trade names have been used to simplify information; no endorsement is intended. Published June 1990. $0.50