1.A real estate development company, Peterson and Johnson, is considering fi ve possible development projects. The following table shows the estimated lon g-run profit (per preset value) that each project would generate, as well as the a mount of investment required to undertake the project, in units of millions of d ollars. The owners of this company have raised $30 million of investment capital for these projects. Now the company wants to select the combination of projects t hat will maximize their total estimated long-run profits (net present value) with out investing more than $30 million. Please formulate a BIP model for this pro blem. Development project 1 2 4 5 Estimated profit 2 7 3 4.5 Capital required 4 12 8.
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