Due to the financial features specific to agricultural cooperatives, the paper Ringette Girdle constructs a constrained-maximizing model under the assumption that the financial objective of an agricultural cooperative is to maximize the present value of the patron after-tax total income on an infinite time horizon by choosing the dividend rate, the cash 3 Piece Entertainment Unit patronage refund rate, and the length of the revolving fund cycles.The model is solved numerically in a numerical illustration.In equilibrium, the optimal capital structure is derived for the agricultural cooperative.The effects of the changes in personal tax rates and discount rates are also explored.