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Table4:Scenario3ParameterValues6,000StartingNumbersofHorses25.00%GrowthRateofHorses$180,000.00StartingTotalRevenues$30StartingRevenuesperHorse$100,000Non-equinerevenue$516,232StartingTotalExpenses$86.04StartingExpensesperhorse7.00%GrowthRateofExpenses400Numberofstalls17,717MaximumHorses2.50%InflationRateYear123456789Horses600075009375117191464817717177171771717717TotalRevperHorse$30.00$30.00$30.00$30.00$30.00$31.01$31.78$32.57$33.39TotalRevenue$180,000$225,000$281,250$351,563$439,453$549,316$563,049$577,126$591,554Augmentedtotal$280,000$325,000$381,250$451,563$539,453$649,316$663,049$677,126$691,554TotalExpenses$516,232$552,368$591,034$632,406$676,675$724,042$742,143$760,697$779,714Expensesperhorse$86$74$63$54$46$41$42$43$44OperatingProfits-$236,232-$227,368-$209,784-$180,844-$137,222-$74,726-$79,094-$83,571-$88,160CumulativeLosses-$236,232-$463,600-$673,384-$854,228-$991,450-$1,066,176-$1,145,269-$1,228,841-$1,317,001
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