$1,600 $1,143 $565 $953 $6,541 $1,181 $768 $0 $6,010 $591 $292 $191

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1 TABLE 1. Acreage Summary, San Juan County, BUDGET AREA... SAN JUAN COUNTY, FARM SIZE 80 ACRES IRRIGATION TYPE SPRINKLER NUMBER OF CROPS.. 1 WATER USE LAND USE AC.IN. ACREAGE SUMMARY: (ACRES) PER AC. AC.IN. ALFALFA ESTABLISHMENT ALFALFA , ,603 ACRE FEET PER ACRE OF WATER RIGHTS 3.75 TABLE 2. Basic cost information for San Juan County, Item Labor Wage Rate: Equipment operators General & Irrigators $/hour $/hour $7.80 $7.50 Purchased Inputs: Fertilizer: Phosphate (P205) $/pound.24 Seed: Alfalfa Oats $/pound $/pound $ Wire Canal Water Energy: Diesel fuel Gasoline Electricity LP Gas Natural Gas (service charge) $/pound $/acre foot $/gallon $/gallon cents/kwhr $/gallon $/MCF $/month $1.32 $30.50 $2.70 $ $2.85 $4.00 Employee Liability Insurance $/$1,000 wages $20.00 Employee Benefits /wages 18.00% Labor Downtime 25.00% Financial Rates: Operating Capital Interest Rate Land Interest Rate Equipment Interest Rate Real Interest Rate 5.50% 5.00% 5.50% 3.00% Land Taxes $ /acre (full value) Personal Property Tax Rate - NR - R $/$1,000 (Assessed Value) $28.79 $24.53 Supervision Factors Field Crop-Irrigation Field Crop-Equipment & General $/labor hour $/labor hour $ Management Rate 7.00% TABLE 3. Overhead cost information for San Juan County, Item Electricity (Domestic & Shop) Telephone Accounting & Legal Misc. Supplies & Hand Tools Pickup and Auto miles 13,081 Insurance - general liability (non-employee) - fire/theft Property Taxes - non-farm land - other than land & machinery Building repairs and maintenance Dues, fees, publications Farmstead $ $ per mile per month per month $1,600 $1,143 $565 $953 $6,541 $1,181 $768 $6,010 $591 $292 $191 Total $19,834 Total per planted acre $287.45

2 Table 4. Pumping costs and data for irrigation, San Juan County, INPUT DATA DELIVERY PSI: BOOSTER PUMP 70 GALLONS PER MINUTE (GPM) 800 WORK HORSEPOWER 33 EFFICIENCY FACTOR: ELECTRICITY NATURAL GAS LP GAS DIESEL FUEL PER UNIT: ELECTRICITY CENTS/KwHr NATURAL GAS $4.00 $/MCF LP GAS $2.85 $/GAL DIESEL $2.70 $/GAL PUMPING S ELECTRIC WELL: PER HOUR $5.59 PER ACRE INCH $3.16 NATURAL GAS WELL: PER HOUR $2.40 PER ACRE INCH $1.36 LP GAS WELL: PER HOUR $16.78 PER ACRE INCH $9.49 DIESEL WELL: PER HOUR $9.93 PER ACRE INCH $5.62 TABLE 5. Equipment summary for an 80 acre sprinkler-irrigated farm, San Juan County, EQUIPMENT VARIABLE S S ANNUAL ITEM & SIZE FUEL, OIL, FUEL, OIL REPAIR HOURS OF NUMBER REPAIR DEPRECIATION TAXES VALUE LUBRICANT PER HR PER HR USE PER HR TRACTOR 40 HP 51 1 $7,000 $462 $56 $8.98 $1.08 $360 $86 $8.66 TRACTOR 95 HP 65 1 $17,335 $1,076 $62 $ $525 $76 $9.17 SWATHER 14 FT 35 1 $3,900 $353 $20 $ $1,450 $139 $45.56 BALER, PTO 2 WIRE 46 1 $1,600 $7.15 $385 $37 $9.22 BALE WAGON, PTO 44 1 $1,500 $56 $1.28 $800 $77 $20.11 DISC 12 FT 4 1 $2,250 $10 $2.79 $300 $22 $85.99 PLOW 3-14 IN 7 1 $3,350 $31 $4.15 $447 $32 $64.97 DITCHER (DOUBLE MOLDBOARD) 8 1 $1, $167 $12 $22.33 HARROW $ $40 $3 $20.52 FT DRILL 12 FT 2 1 $2,200 $2 $1.06 $440 $21 $ FERT SPREADER DEALER FURNISHED 4 SIDEROLL SPRINKLER 2,038 1 $2, $333 $24.18 NATURAL GAS BOOSTER PUMP 2,038 1 $2, $333 $24.23 $4,886 $2.40 $45,685 $6,776 $244 $5,579 $552 EQUIPMENT LIST NEW USED YEARS EQUIP MAX FUEL LUBE ACCUM INTEREST ITEM VALUE VALUE LIFE CODE HOURS UNIT/HR COEF HOURS AGE EXPENSE TRACTOR 40 HP TRACTOR 95 HP SWATHER 14 FT BALER, PTO 2 WIRE BALE WAGON, PTO DISC 12 FT PLOW 3-14 IN DITCHER (DOUBLE MOLDBOARD) HARROW 12 FT DRILL 12 FT FERT SPREADER DEALER FURNISHED SIDEROLL SPRINKLER NATURAL GAS BOOSTER PUMP USAGE LIST ALFALFA ALFALFA PER ACRE EST. HAY S hours per acre INTEREST PRORATION OAT HAY ALFALFA HAY -dollars per acre ALFALFA ESTABLISHMENT ACRES: 11 PUMP WATER: POWER TIMES UNIT OVER RATE MACHINE CUSTOM PLOW DISC HARROW FERTILIZE DRILL DITCHER 40 HP IRRIGATE SWATHER 14 FT BALER BALE WAGON ALFALFA HAY ACRES: 69 PUMP WATER: POWER TIMES UNIT OVER RATE MACHINE CUSTOM FERTILIZE DITCHER 40 HP IRRIGATE SWATHER 14 FT BALER 40 HP BALE WAGON ANNUAL REPAIR S AS A PERCENT OF NEW VALUE Hours of Use * * * * ** ** ** ** ** * Based on unpublished data of D. R. Hunt, Department of Agricultural Engineering, University of Illinois. ** Based on "Agricultural Machinery Data" in Agricultural Engineers Yearbook, Codes tractors 2 balers, combines, forage harvesters, windrowers, pickups 3 rotary hoe, disks, moldboard plows, chisels, field cultivators row cultivators, laser plane 4 harrows, wagons, floats, roto buck, drag, roller, water furrow, bed shaper 5 balewagons, cotton pickers, cotton strippers, corn pickers corn heads, forage equipment, rotary mowers, stalk choppers, feed wagons, farm trucks 6 rakes, cutterbar mower 7 baler w/ engine, manure spreader 8 planters, drills, seeding equipment, mounted sprayers 9 fertilizer distributing equipment

3 TABLE 6. Alfalfa establishment, sprinkler-irrigated, budgeted per acre costs and returns for an 80 acre farm, San Juan County, Planting dates: April 15 - June 1 Harvesting dates: June 15 - July 1 ITEM GROSS RETURNS OAT HAY GRAZING PRICE $ YIELD 2.25 TONS (STACKED) 1.00 AUM $ $ PRICE QUANTITY ALFALFA SEED OAT SEED PHOSPHATE (P2O5) WIRE (MAINTENANCE) $ $ LBS 45 LBS 45 LBS 19 LBS 39 AC. IN. 1 ACRE $80.00 $19.80 $10.80 $25.45 $99.13 $80.00 $19.80 $10.80 $25.45 $99.13 SUB $ $ $ PREHARVEST OPERATIONS POWER UNIT RATE LABOR FUEL & LUBE REPAIRS PLOW DISC (2X) HARROW FERTILIZE DRILL DITCHER (2X) IRRIGATE (9X) 40 HP 0.67 HR 0.34 HR 0.19 HR 0.05 HR 0.21 HR 0.10 HR 2.25 HR $5.23 $2.65 $ $1.64 $16.88 $11.02 $5.59 $ $ $52.89 $3.42 $ $49.67 $32.35 $ $43.85 $3.10 $9.03 $69.33 $41.87 $10.43 $1.72 $49.36 $4.89 $78.80 SUB 3.81 HR $29.04 $77.79 $5.45 $ $ HARVEST OPERATIONS SWATHER BALER BALE WAGON 14 FT 0.16 HR 0.21 HR 0.20 HR $1.25 $1.64 $1.56 $1.62 $3.45 $ $7.29 $3.86 $5.86 $10.25 $9.18 $11.15 SUB 0.57 HR $4.45 $ $17.01 $30.58 OVERHEAD EXPENSES DOWNTIME EMPLOYEE BENEFITS INSURANCE LAND TAXES SUPERVISION AND MANAGEMENT 1.74 HR.67 $13.53 $6.03 $38.28 $13.53 $ $38.28 SUB 1.74 HR.67 $57.85 $60.94 OPERATING EXPENSES 6.12 HR $ $91.33 $86.15 $6.22 $ $ NET OPERATING PROFIT ($221.09) INTEREST ON OPERATING CAPITAL INTEREST ON EQUIPMENT INVESTMENT ( 5.50% ) $4.93 $64.31 RETURN TO LAND AND RISK ($290.33)

4 TABLE 7. Alfalfa hay, sprinkler-irrigated, budgeted per acre costs and returns for an 80 acre farm, San Juan County, Harvesting dates: June 1 - October 15 GROSS RETURNS ALFAL FA HAY GRAZING ITEM PRICE YIELD $ TONS (STACKED) 2.00 AUM $ $ $20.00 PRICE QUANTITY PHOSPHATE (P2O5) INSECTICIDE (AERIAL) WIRE LIVESTOCK FAC & EQUIP ESTABLISHMENT: Principal : Interest (MAINTENANCE).24 $19.20 $ LBS 1.00 ACRE LBS 6.00 YEARS AC. IN. 1 ACRE $9.60 $19.20 $56.76 $5.00 $48.39 $18.80 $ $9.60 $19.20 $56.76 $5.00 $48.39 $18.80 $ SUB $85.56 $ $ PREHARVEST OPERATIONS POWER UNIT RATE LABOR FUEL & LUBE REPAIRS FERTILIZE DITCHER (2X) IRRIGATE (13X) 40 HP 0.05 HR 0.10 HR 3.25 HR.39 $ $ $3.10 $10.66 $1.72 $4.89 $97.41 SUB 3.40 HR $25.55 $ $14.21 $ HARVEST OPERATIONS SWATHER (3X) BALER (3X) BALE WAGON (3X) 14 FT 40 HP 0.48 HR 0.63 HR 0.60 HR $3.74 $4.91 $4.68 $4.85 $5.65 $ $1.33 $21.87 $11.26 $17.57 $30.74 $22.61 $33.45 SUB 1.71 HR $13.34 $20.37 $2.39 $50.70 $86.80 OVERHEAD EXPENSES DOWNTIME EMPLOYEE BENEFITS INSURANCE LAND TAXES SUPERVISION AND MANAGEMENT OTHER EXPENSES 0.44 HR $ $3.43 $7.00 $70.28 $3.43 $7.00 $70.28 $ SUB 0.44 HR $ $80.71 $ OPERATING EXPENSES 5.55 HR $ $ $84.48 $2.55 $ $ NET OPERATING PROFIT $ INTEREST ON OPERATING CAPITAL INTEREST ON EQUIPMENT INVESTMENT ( 5.50% ) $3.34 $35.62 RETURN TO LAND AND RISK $61.18 BUDGET SUMMARY GROSS RETURN VARIABLE OPERATING EXPENSES RETURN OVER VARIABLE EXPENSES EXPENSES NET FARM INCOME LABOR AND MANAGEMENT NET OPERATING PROFIT CAPITAL S RETURN TO LAND AND RISK $ $ $ $38.97 $ $ $ $ $61.18 (GROSS MARGIN) (RETURN TO CAPITAL, LABOR, LAND & RISK) (RETURN TO CAPITAL, LAND & RISK)

5 TABLE 8. Summary of per acre costs and returns for an 80 acre farm, San Juan County, ALFALFA ESTABLISHMENT TONS ALFALFA HAY TONS PRIMARY YIELD PRIMARY PRICE $ $ GOVERNMENT PAYMENTS SECOND INCOME $20.00 GROSS RETURN $ $ CASH OPERATING EXPENSES SEED $99.80 FERTILIZER $10.80 $9.60 CHEMICALS $19.20 CROP INSURANCE OTHER $25.45 $56.76 FUEL, OIL & LUBRICANTS-EQUIPMENT $33.26 $22.09 FUEL-IRRIGATION $52.89 $62.38 REPAIRS $6.22 $2.55 CUSTOM CHARGES LAND TAXES OTHER EXPENSES.67 $ CASH EXPENSES $ $ RETURN OVER CASH EXPENSES $ $ EXPENSES $ $ EXPENSES $ $ NET FARM INCOME ($129.76) $ LABOR AND MANAGEMENT S $91.33 $ NET OPERATING PROFIT ($221.09) $ CAPITAL S INTEREST ON OPERATING CAPITAL $4.93 $3.34 INTEREST ON EQUIPMENT INVESTMENT $64.31 $35.62 CAPITAL S $69.24 $38.97 RETURN TO LAND AND RISK ($290.33) $61.18

6 TABLE 9. Whole farm summary, San Juan County, GROSS RETURNS OAT HAY CROP ALFALFA HAY CROP GRAZING ACRES ACRES $4,070 $63,825 $1,380 GROSS RETURN $69,275 CASH OPERATING EXPENSES SEED FERTILIZER CHEMICALS CROP INSURANCE OTHER FUEL, OIL & LUBRICANTS-EQUIPMENT FUEL-IRRIGATION REPAIRS CUSTOM CHARGES LAND TAXES OTHER EXPENSES $1,098 $781 $1,325 $4,196 $1,890 $4,886 $244 $194 $19,895 CASH EXPENSES $34,510 RETURN OVER CASH EXPENSES $34,765 EXPENSES $17,691 EXPENSES $52,201 NET FARM INCOME $17,074 LABOR AND MANAGEMENT S $9,257 NET OPERATING PROFIT $7,817 CAPITAL S INTEREST ON OPERATING CAPITAL INTEREST ON EQUIPMENT INVESTMENT $285 $3,166 CAPITAL S $3,450 RETURN TO LAND AND RISK $4,367 RETURN RETURN ON LAND VALUE TO RISK* INVESTMENT** $1,000 /ACRE $2,500 /ACRE $4,000 /ACRE $5,500 /ACRE $7,000 /ACRE $8,500 /ACRE $1,967 ($1,633) ($5,233) ($8,833) ($12,433) ($16,033) 6.22% 3.18% 2.14% 1.61% 1.29% 1.08% * RETURN TO LAND AND RISK MINUS (INTEREST RATE TIMES LAND VALUE TIMES ACREAGE) ** NET OPERATING PROFIT DIVIDED BY (MACHINERY AND EQUIPMENT VALUE PLUS LAND VALUE)