NPV, Net Present Value; LEV, Land Expectation Value;IRR, Internal Rate of Return; ROI, Return on Investment; C, initial planting costs; R, total future timber revenues; T, rotation length; r, discount rate; I, NPV from one rotation;
Long-term investments; capital assest pricing model; systematic risk; break-even cost for improved seedlings; optimal roataion age; Hurdle Rate;potential losses; market uncertainty; scenario analysis; monte carlo simulation; marginal analysis; break even conditions; managerial flexibility; real options; Internal Rate of Return; Future Timber Revenues; Land Expectation Value; Potential gains; Biological Growth; Timber Price; Land Price; Return; Forestland Valuation; Stumpage Price; Dominant Drivers; total timberland returns;Time Value; Discounting; Future Cash Flows;
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