Mr. Brown bought 75 steers averaging 505 pounds for $136 per cwt. He sold the steers averaging 685 pounds for $141 per cwt. He estimated an average daily gain (ADG) of 2.1 pounds per day. Feed conversion is 9:1. (Note: 9 lb of feed consumed result in 1 lb gain.) He borrowed the money for the expenses at 5.25 percent annual percentage rate (APR). The nutrient requirements, feedstuff, and expenses are given in Table 13-2.
a. What was the total cost of the steers?
b. What was the return on the investment?
c. What was the APR of return on the investment?
a. $69,912.82
b. $75,438.75
c. 28%
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