148 VALUATION OF WHOLE WOODS OR FORESTS. 



3. Sale Tabic of a Forest. 



By the sale value of a forest is understood the value 

 estimated according to prices realised for forests of a similar 

 description. As it is difficult to estimate existing differences, 

 and, hence, to estimate the sale value, the latter is of 

 subordinate importance. 



4. llental Value of a Forest. 



By the rental value of a forest is understood the capitalised 

 rental, AYhich it is capable of yielding. If the annually equal 

 rental is = R, the rental value would be — 



Eental value = — . 



This method is only applicable in the case of a forest, which 

 can be so managed, that it yields an annually (or periodically) 

 equal rental. The rental is represented by — 



y, -f r. + r,, + . . .j^t„-{c^ r x o, 



and the rental value of the forest is — 



_ r, + T„ +:/; + ... + T„ - (r + r X e) 

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