3, the associated income over the five-year planning horizon is .4 X $50,000 (for year 2) +...
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3, the associated income over the five-year planning horizon is .4 X $50,000
(for year 2) + .4 X $50,000 (for year 3) + (.4 + .6) X $50,000 (for year 4) +
(.4 + .6) X $50,000 (for year 5) = (4 X .4 + 2 X .6) X $50,000. Determine the optimal schedule for the projects that will maximize the total income over the five-year horizon. For simplicity, disregard the time value of money.
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