Q1. Formulate the following problem. Follow the instructions. (10 points). Company ABC faces the following capital budgeting decision. Six real estate projects are available for investment. The net present value and expenditures required for each project (in million dollars) are as follows. Project 2 3 4 5 6 Net Present value $15 $5 $13 $14 $20 $9 Expenditure Required $90 $34 $81 $70 $114 $50 There are conditions that limit the investment alternatives: At least two of projects 1,3,5, and 6 must be undertaken. - If either project 3 or 5 is undertaken, they must both be undertaken. Project 4 cannot be undertaken unless both projects 1 & 3 also undertaken. - The budget for this investment is $220 million. a) Formulate the problem to find the projects that maximizes net present value while satisfying the restrictions and not exceeding the budget. (7 points) b) Solve the model, What is the optimal net present value? Which projects will be undertaken? How much budget is unused? Embed your excel file (3 points)