• Please send the excel setup with constraints and formulas Broker Sonya Wong is currently trying to maximize her profit in the bond Problem market. Four bonds are available for purchase and sale at the bid and ask prices shown in the first table below. Sonya can buy up to 1000 units of each bond at the ask price or sell up to 1000 units of each bond at the bid price. During each of the next three years, the person who sells a bond will pay the owner of the bond the cash payments shown in the second table below. Cash accumulated at the end of each year earns 1% annual interest. Sonya’s goal is to maximize her cash position at the end of year 3. Determine how to maximize net profit from buying and selling bonds, subject to the constraints previously described. Why do you think we limit the number of units of each bond that can be bought or sold? (Hint: the optimal plan includes buying two bonds and selling two bonds of proper quantities at the beginning of Year 1. Notice also that all decisions are made at the beginning of Year 1 and no more decisions will be made in the subsequent years.) Table 1: Bid and Ask Prices Bond 1 2 3 4 Bid Price 980 970 960 940 Ask Price 990 985 972 954 Table 2: Cash Payments Bond 1 2 3 4 Year 1 100 80 70 60 Year 2 110 90 80 50 Year 3 1100 1120 1090 1110