If you are considering a reforestation investment, you should be concerned with its effective cost; ,that is, the cost of reforestation after considering interest arid timing of the tax savings and cost-share payments. Effective regeneration costs depend on your interest rate, marginal tax rate, and whether or not you receive assistance from a state or federal cost-share program.
Bullard, Steven H. and Straka, Thomas J., "What is your “effective” rate of reforestation cost?" (1985). Faculty Publications. 93.