18 Stockbroker Susan Drexler has advised her client as shown in the following table.

INVESTMENT COST

(thousands)

EXPECTED RETURN

(thousands)

Andover municipal bonds

$ 400 $ 35 Hamilton city bonds $1,000 $100 East Power & Light Co. $ 350 $ 30 Nebraska Electric Service

$ 700 $ 65 Southern Gas and Electric

$ 490 $ 45 Manuel Products Co. $ 270 $ 20 Builders Paint Co. $ 800 $ 90 Rest Easy Hotels Co. $ 500 $ 50 The client agrees to this list but provides several conditions: (1) No more than $3,000,000 can be invested, (2) the money is to be spread among at least five investments, (3) no more than one type of bond can be purchased, (4) at least two utility stocks must be purchased, and (5) at least two regular stocks must be purchased. Formulate this as a 0–1 IP problem for Ms. Drexler to maximize expected return. Solve it by using Excel.