; or (ii) for additional levels of coverage, the amount elected by the producer, from 50 to 65 percent, or from 50 to 75 percent for a beginning farmer or rancher (as defined in section 502(b)(3)); exceeds (B) the actual revenue for the farm, as determined by the Secretary. (3) Service fee To be eligible to receive a payment under this subsection, the producer must pay the service fee required by subsection (k). (4) Premium To be eligible to receive a payment under the additional levels of coverage in paragraph (2)(B)(ii), the producer must pay a premium equal to— (A) the lesser of— (i) the sum of the premiums for each eligible farm, with the premium for each eligible farm obtained by multiplying— (I) the expected revenue for the farm, as determined by the Secretary; (II) the coverage level elected by the producer; and (III) a 5.25-percent premium fee; or (ii) the product obtained by multiplying— (I) a 5.25-percent premium fee; and (II) the applicable payment limit. (5) Records If revenue coverage is elected, a producer is not required to provide an acreage report under subsection (b)(3), but the producer must provide a Farm Operation Report and tax records for prior years, as determined by the Secretary. . 506. Beginning farmer and rancher crop insurance study Not later than one year after the date of the enactment of this Act, the Secretary of Agriculture shall submit to Congress a report identifying— (1) the barriers that exist to prevent or hinder the ability of beginning farmers and ranchers in accessing whole farm revenue insurance and other crop insurance products available under the Federal Crop Insurance Act