Company XYZ is contemplating a product development program encompassing 6 major projects. The company is constrained from embarking on all of the projects at once by the number of available (budgeted) developers (50) and the budget allocated for project expenses (300,000). The following table shows the resource requirements and the estimated profit for each project. Use EXCELs Solver to answer questions (1), (2) and (3) in the EXCEL spreadsheets. Project Expense (000) Developers required Profit (000) 1 60 5 35 2 100 8 80 3 55 6 30 4 50 5 20 5 100 6 70 6 85 5 55 (1) What is the maximum profit, and which projects should this company select? (5 marks) (2) Suppose that CEO of company XYZ decides that project 2 and project 5 are mutually exclusive when all other projects remain independent. What is the revised project portfolio and the revised maximum profit? (5 marks) (3) In addition to conditions in question (2), suppose that project 4 and project 5 are must-take projects. What is the revised project portfolio and the revised maximum profit? (5 marks)