2) Emma has $130,000 in her college spending account. Emma will pay her tuition and living expenses for the next four years from this account. The following table shows Emma's expected expenses in the next four years. Assume that the expenses are to be paid at the beginning of respective years. Year Expense 1 $29,000 2 $30,000 3 $28,000 4 $25,000 Emma considers the following bond investment options at the beginning of the first year. Bond Current price Annual rate of Years to maturity Par value return (%) 1 $1200 8 2 $1000 2 $1450 12 3 $1300 Money not invested in bonds can be invested in savings with an annual interest rate of 3%. Which investment strategy should Emma follow to maximize the unspent money in her account at the end of the fourth year? a) (2 points] Define the variables. b) (17 points) Write the mathematical formulation of the problem. c) [6 points] Solve the problem in Excel and submit your file in Canvas. State the optimal solution here