For freshwater and tidal wetlands losses, the in lieu payment shall be the sum of:
I. The cost that would have been incurred if a wetland of the same type was constructed at the ratios adopted by the department based on a price of $65,000 per acre of wetland created, to be adjusted at the beginning of the calendar year according to the annual simple rate of interest on judgments established by RSA 336:1;
II. The area of wetlands, as used in the calculation performed under paragraph I, times the cost of land in the municipality where the impact is occurring as calculated by the total assessed land values in the municipality, as determined by the department of revenue administration, which are equalized, divided by the number of acres in the municipality to yield a per acre equalized land value; and
III. An administrative assessment which equals 20 percent of the sum of paragraphs I and II.