Question: Five projects are being evaluated over a 3-year planning horizon. The following table gives the expected returns (i.e., revenue) for each project and the associated

Five projects are being evaluated over a 3-year planning horizon. The following table gives the expected returns (i.e., revenue) for each project and the associated yearly expenditures. Expenditures (million $)/yr Project 2nd Year 3rd Year 1st Year Return (million $) 8 30 1 12 2 5 20 7 6 3 25 3 4 2 4 8 23 10 5 4 6 27 Available funds (million $) 25 20 20 You are interested in maximizing the expected returns. What projects should you select? Check the box only for the projects that you would select. Project 1 Project 2 Project 3 Project 4

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