The Vice President of Finance at Kramerica, Inc. has determined a capital investment budget of $10M for the next year. Unfortunately, this amount is not sufficient to accept all positive NPV projects available to the firm.

Region	Project	Cost	NPV
Europe	1	$1,200,000	$172,036
Europe	2	$2,000,000	$362,283
Europe	3	$500,000	$147,487
Asia	4	$600,000	$72,076
Asia	5	$700,000	$129.352
Asia	6	$3,000,000	$527,127
Asia	7	$1,500,000	$343,632
Africa	8	$200,000	$52,836
Africa	9	$2,400,000	$275,936
Africa	10	$1,000,000	$175,824

Help the Vice President of Finance to choose which investment should be accepted in the list above.

a. Using the Solver, determine which projects should be accepted if the firms goal is to maximize shareholders wealth while having at least one project in each of the three continents. (Note: Make sure to set the Solver options to Assume Linear Model.)

(This should be done in Excel)