ing land value at exit equal to 2009 comparable sales value ($906/ac) 6.05% 6.14% Using a 5.0% exit discount rate 5.80% 5.50% 3 EFTA00624975 Anthony Timberlands Model Sensitivity for SWF2 Based on $1,895/acre Purchase Price with $28.00/ton Pine Sawtimber Supply Agreement Price Using 5.0% Exit Discount Rate to determine terminal land