True, but that is just the beginning point based on an...

True, but that is just the beginning point based on an estoimated value at harvest time. TFC then do a discounted cashflow calculation to arrive at a current value. The more usual method (used by the ATO among others) is to value existing biological assets at the higher of either current realisable value (ie, if cut down and sold now) or cost. The discounted cachflow model presumes that nothing can go wrong between now and harvest time - a big ask.

Both methods are acceptable, but the dcf model is seen as adventurous.