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A producer is thinking about storing his corn in the local elevator for 5 months

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A producer is thinking about storing his corn in the local elevator for 5 months. The price at harvest is $2.20 per bushel and the elevator charges 2 cents per bushel per month for storage plus a 4 cent per bushel handling charge. He has 5000 bushels to sell and would need to borrow $20,000 at 8% annual interest while he stores the corn. What price must he recieve for his corn to break even and cover his storage and opportunity costs?

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