The Department shall decide whether an applicant is entitled to a deferral of mitigation of nontidal wetlands by doing the following:
A. Evaluating the applicant's petition and determine the applicant's net worth;
B. Comparing the applicant's net worth with the cost of any proposed mitigation alternatives on the farm; and
C. Determining whether a deferral is justified on the grounds that any required mitigation of nontidal wetlands will create an economic hardship which would jeopardize the viable continued operation of the farm.