MACHINERY COST OP FARM OPERATIONS. 



21 



Table XIX. — Corn binders — relation of work done annually to service and cost per acre 

 and per day used on 458 farms. 



Range of area covered annually acres. 



Number of records included 



Average area covored annually acres. 



Years of service rendered 



Acres covered during life 



Days actually used during life 



Cost when new 



Total cost of repairs during life 



Total interest during life at 6 per cent 



Total of depreciation, interest, and repairs during life 



Cost of corn binder: 



Per day used 



Per acre cut 



233 



10.1 



11.0 



111.1 



19 



12;,. 00 

 15.73 

 45.00 



1*5.73 



$9.78 

 1.67 



10 and 

 over. 



225 



32.5 



10.6 



344.5 



60 



$125. 00 

 28. 20 

 42.46 



195. 66 



$3.24 

 .568 



Average. 



21.2 



10.8 



227.9 



40 



S125. 00 

 21.92 

 43-28 



190. 20 



S4.76 

 .83 



The replacement cost averages $0.55 per acre and the interest 

 charge at 6 per cent is $0,194 per care. 



The corn binder requires an expenditure of $0,096 per acre for 

 repairs, or about $0.50 for each day used. About 17| per cent 

 must be added to its original cost for repairs during its life. 



RELATION OP ANNUAL REPAIRS TO FIRST COST. 



In making farm plans for the years to come, it is often desirable 

 to know what the normal relation is between the first cost of an im- 

 plement and the annual repairs which must be provided for. Table 

 XX has been prepared for the purpose of affording data of this char- 

 acter for the implements discussed in this bulletin. The sizes of 

 implements shown in the first column of the table are the same as 

 the averages for the corresponding implements in Tables II to XIX. 



The first cost in the second column is taken from farm inventories 

 recorded in the western New York area. The third column of the 

 table shows the percentage of the first cost that must, on the average, 

 be laid out annually for repairs for each implement. 



The fourth column is the average present value of the respective 

 implements that would be obtained by making an inventory valua- 

 tion and computing the average. 1 The fifth column shows the per- 

 centage of the present value that must be laid out for repairs annu- 

 ally to keep each machine in running order. 



1 The fourth column of the table represents the average investment upon which the farmer must earn 

 interest at the borrowing rate in his locality where he charges off for depreciation annually a part of the 

 first cost in proportion to the average life of his respective implemants. This average investment is iden- 

 tical with the average present value that would be obtained by making an inventory valuation of the 

 same implements and computing the average. The relation of first cost to average farm value of machinery 

 in use is shown on page 5 for equipment having average life ranging from 1 to 20 years. 



