Answer:
At 1.783 or more, the conversion yield better gain than sales the corn
Explanation:
The ethanol conversion become attractive if the cost for doing the conversion are lower than the sale revenue for the product.
total cost: raw materials + conversion cost
corn price: $ 3.75
conversion cost: $ 1.60
Total cost: $ 5.35
output: gallon of ethanol per bushel
3 gallons of ethanol per bushel
total cost / output = 5.35/3 = 1.783 cost per gallon
