A city will undertake five urban renewal housing projects over the next 5 years

A city will undertake five urban renewal housing projects over the next 5 years. Each project has a different starting year and a different duration. The following table provides the basic data of the situation: Year 1 Year 2 Year 3 Year 4 Year 5 Start End Cost (million $) 5.0 80 15.0 12 Annual income (million 3) .05 .07 .15 .02 Start Project 1 Project 2 Project 3 Project 4 Budget (million ) End End Start Start End 70 3.0 6.0 7.0 7.0 Projects 1 and 4 must be finished completely within their durations. The remaining two projects can be finished partially within budget limitations, if necessary. However, each project must be at least 25% completed within its duration. At the end of each year, the completed section of a project is immediately occupied by tenants, and a proportional amount of income is realized. For example, if 40% of project 1 is completed in year 1 and 60% in year 3, the associated income over the 5-year planning horizon is .4* $50,000 (for year 2) + 4 * $50,000 (for year 3) + 1.4 +.62 * $50,000 (for year 4) + 1.4 +.62* $50,000 (for year 5) = 14 * 42 + 12.62* $50,000. Develop an LP model to determine the schedule for the projects that will maximize the total income over the 5-year horizon, and find the solution using Excel Solver. For simplicity, disregard the time value of money.