Table 3A. Income and Cash Operating Summary; Alfalfa Stand Establish, 1998 Page 10

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1 Table 3A. Income and Cash Operating Summary; Alfalfa Stand Establish, 1998 Page 10 COUNTY: Yuma FARM: Yuma County 98 WATER SOURCE: Yuma County Water TILLAGE: Conventional Item Unit Quantity Price/ Budgeted Total Your Farm Unit /Acre /Acre Budget INCOME Hay Ton 0.00 $0.00 $0.00 $0.00 CASH LAND PREPARATION AND GROWING EXPENSES (including sales tax) Paid Labor (including benefits) Tractor/Self Propelled Irrigation 8.72 Chemicals and Custom Applications Fertilizer Herbicide 6.51 Farm Machinery and Vehicles Diesel Fuel Repairs and Maintenance Irrigation Water (excluding labor) 0.00 Water Assessment (See Note Below) ** Other Purchased Inputs & Seed/Transplants TOTAL CASH LAND PREPARATION AND GROWING EXPENSES CASH HARVEST AND POST HARVEST EXPENSES TOTAL HARVEST AND POST HARVEST EXPENSE 0.00 OPERATING OVERHEAD PICKUP USE 7.56 OPERATING INTEREST AT 10.0% 4.87 TOTAL CASH OPERATING EXPENSES ============= =================== $ RETURNS OVER CASH OPERATING EXPENSES ($223.97) Notes: The above figures do not include ownership costs, see table B for detailed cost allocation. ** A water assessment charge of $62.00 per Acre is included as an ownership cost in Table B.

2 Table 3B. Allocations of Ownership Costs; Alfalfa Stand Establish, 1998 Page CASH COST BASIS ($/ACRE) TOTAL COST BASIS ($/ACRE) -- Item Income and Costs Net Returns Income and Costs Net Returns TOTAL INCOME at $0.00 / Tn $0.00 $0.00 TOTAL OPERATING EXPENSES $ $ RETURN OVER CASH OPERATING EXPENSES ($223.97) ($223.97) CASH OVERHEAD EXPENSES Taxes, Housing and Insurance, Farm Machinery General and Office Overhead (5.0% of Total Operating Exp.) General Farm Maintenance (3.0% of Total Operating Exp.) Total Cash Overhead Expenses Total Cash Operating and Overhead Cost RETURNS OVER CASH OPER. AND OVER. EXPENSES ($245.58) ($245.58) CAPITAL ALLOCATIONS (100% Equity) Capital Replacement, Machinery and Vehicles Interest on Equity, Machinery and Vehicles Total Capital Allocations RETURNS TO LAND, CAPITAL, MANAGEMENT AND RISK ----> ($245.58) RETURNS TO LAND, MANAGEMENT AND RISK > ($274.23) Land Cost / Ownership (100% Equity) Property Taxes ($1,314. X 16.0% X 0.132) Opportunity Interest on Land (100% X 6.0 X $1,314.) Water Assessment Total Land Costs RETURNS TO CAPITAL, MANAGEMENT AND RISK > ($335.38) RETURNS TO MANAGEMENT AND RISK ---> ($442.86) Management Services (8% of Total Operation Expenses) TOTAL OWNERSHIP COST TOTAL COST ============= ============= $ $ RETURNS TO CAPITAL, MANAGEMENT AND RISK > ($335.38) RETURNS TO RISK (PROFITS) -> ($460.78) BREAK-EVEN PRICE TO COVER OPERATING COST ( PER Lb ) BREAK-EVEN PRICE TO COVER OWNERSHIP COST BREAK-EVEN PRICE TO COVER TOTAL COST

3 Table 3C. Variable Operating Costs; Alfalfa Stand Establish, 1998 Page 12 First ---- Hours * Operating Costs ($/ACRE *) Per Operation ---- Tot. Cash No. Month Operation Machine Labor Fuel/Rps. Labor Cust/Serv. Materials Total Times Expenses Class 1 Aug Chisel L 2 Aug Disk L 3 Aug Apply Fert/Ground G 4 Aug Laser Level L 5 Sep Make Borders G 6 Sep Preirrigate G 7 Sep Finish Level L 8 Sep Irrigate G 9 Oct Mulch L 10 Oct Plant L 11 Oct Irrigate/Run Herbicide G Pickup Use30 Mi/Acre Operating Interest at ============= TOTAL CASH OPERATING EXPENSES (includes all times over): T *NOTES: Machine and labor hours and operating cost are for one time over the designated acreage. The "Tot. Cash Expense" column and the "TOTAL CASH OPERATING EXPENSES" row include all operations, all times over. Classes are defined below. A water assessment charge of $62.00 per Acre is included as an ownership cost in Table B. OPERATING COST SUMMARY BY CLASS Land Preparation (L) Growing (G) Harvest (H) 0.00 Post Harvest (P) 0.00 Marketing (M) 0.00 Operating Overhead (O) ============= Total (T) $223.97

4 Table 3D. Resource and Cash Flow Requirements; Alfalfa Stand Establish, 1998 Page 13 Water Operating Costs ($/ACRE *) Number Applied Total Purchased Fuel, Oil Other Month * Irrigations (inches) Labor (Hrs) Water and Repairs Labor Chemicals Purchases Services Total AUG C SEP C OCT C NOV C Pickup Use30 Mi/Acre Operating Interest at Water Assessment ** Total % TOTAL RESOURCE REQUIREMENTS ( per Acre) TOTAL ENERGY REQUIREMENTS ( per Acre) Total N 44.0 Diesel Fuel 17.5 Gal Total P Unleaded Gas 3.0 Gal Total K 0.0 All Direct Energy 2.8 M BTU Total Labor 5.3 Total Water 25.0 EQUIPMENT REQUIREMENTS ( per Acre) Blade Scraper, 10' 0.45 Hr Border Disk, Heavy Duty 0.60 Hr Drag Scraper, 10' 0.90 Hr Fertilizer Broadcaster, 0.15 Hr Grain Drill, 12' 0.30 Hr Laser, Complete System 0.90 Hr Offset Disk, 12' 0.45 Hr Pickup Truck, 1/2 Ton 1.00 Hr Spring Tooth Renovator, 0.22 Hr Tractor, 70 PTO HP, 0.68 Hr Tractor, 100 PTO HP, 2.40 Hr Tractor, 150 PTO HP, 0.45 Hr V-Ripper, 7 Shnk 0.45 Hr MATERIALS REQUIREMENT ( per Acre) , Dry Lb Alfalfa Sd, Cert Lb EPTC 1.40 Pt Water, District AI LABOR REQUIREMENT ( per Acre) Irrigators 1.34 Hr Tractor 3.92 Hr *NOTE: P = Previous Year C = Current Year N = Next Year ** A water assessment charge of $62.00 per Acre is included as an ownership cost in Table B.

5 Table 3E. Schedule of Operations; Alfalfa Stand Establish, 1998 Page 14 First Equipment/ Custom Oper Job Rate Material Use and Cost Service Cost Labor No.Month Times Operation HP Self-Prop./ Implement Acres/Hr Name Appl. Rate $ / Unit $ / Unit Type 1 Aug 1.0 Chisel 150 V-Ripper, 7 Shnk 2.00 Tractor 2 Aug 2.0 Disk 100 Offset Disk, 12' 4.00 Tractor 3 Aug 1.0 Apply Fert/Ground 70 Fertilizer Broadcaster, , Dry Lb Tn Tractor 4 Aug 1.0 Laser Level 100 Drag Scraper, 10' 1.00 Tractor Laser, Complete System 5 Sep 1.0 Make Borders 100 Border Disk, Heavy Duty 1.50 Tractor 6 Sep 1.0 Preirrigate 3.70 Water, District 5.00 AI 0.00 AF Irrigators 7 Sep 1.0 Finish Level 100 Blade Scraper, 10' 2.00 Tractor 8 Sep 3.0 Irrigate 3.70 Water, District 5.00 AI 0.00 AF Irrigators 9 Oct 1.0 Mulch 70 Spring Tooth Renovator, 16' 4.00 Tractor 10 Oct 1.0 Plant 70 Grain Drill, 12' 3.00 Alfalfa Sd, Cert Lb CW Tractor 11 Oct 1.0 Irrigate/Run Herbicide 3.70 Water, District 5.00 AI 0.00 AF Irrigators EPTC 1.40 Pt Ga Pickup use 30 Mi/Ac Pickup Truck, 1/2 Ton 1.00 *NOTES: Machine times, labor times, and material rates are for one time over the designated acreage.