. Research for tomorrow's forests : 1983 research accomplishments. --. Forests and forestry Research United States. A Program To Analyze Forestry Investment How profitable are investments in forestry? Landowners, foresters, and investors want to know about payoffs from growing timber and now these investments compare with other opportunities. Each tract of timber- land, each landowner, and each market is different, and general guidelines are often not very useful. Also, these computations are complex and time consuming, especially when income taxes are considered. Each timber production option
. Research for tomorrow's forests : 1983 research accomplishments. --. Forests and forestry Research United States. A Program To Analyze Forestry Investment How profitable are investments in forestry? Landowners, foresters, and investors want to know about payoffs from growing timber and now these investments compare with other opportunities. Each tract of timber- land, each landowner, and each market is different, and general guidelines are often not very useful. Also, these computations are complex and time consuming, especially when income taxes are considered. Each timber production option should be considered separately on its own merits. Now, a new model developed by the South- eastern Station and several universities makes it easy to figure the profitability of many forestry investments. This new method is a computer program, which can be run on a variety of readily available and inexpensive microcomputers. The new program finds the present net value, benefit-cost ratio, and rate of return for timber investments with or without calculating the effects of Federal income tax. The model even figures complicated timber depletion and amortization amounts automati- cally. Investments as long as a century can be analyzed as easily as those lasting only a few years. No computer experience is necessary. The user must 46 know when timber management activ- ities will be done and how much they cost. Also, the user must supply timber harvest volume, current market price, and expected rates of change. Costs and benefits for nontimber aspects of forest production can also be included. Foresters have discovered how easily it can be used to solve on-the-ground problems such as: How much can I pay for timberland and still make a profit? Does fertilization pay? Are past man- agement activities cost effective? Government foresters are using the program to select the best management options on public land. Industrial for- esters are using the model to analyze intensive forestry t
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