Capital Budgeting Problem. A developer of cell phone applications has seven proposals for new apps. Unfortunately, the company cannot develop all the proposals because its budget for new projects is limited to $950,000 and it has only 20 programmers to assign to new projects. The financial requirements, returns, and the number of programmers required by each project are summarized in the following table. Projects 3 and 6 required specialized programming knowledge that only one of the programmers has. Both of these projects cannot be selected because the programmer with the necessary skills can be assigned to only one of the projects.

Project	Programmers required	Capital Required ($000)	Estimated NPV ($000)
1	7	250	650
2	6	175	550
3	9	300	600
4	5	150	450
5	6	145	375
6	4	160	525
7	8	325	750

Formulate an ILP for this problem

Create a spreadsheet model for this problem and solve it.

What is the optimal solution?