Solve it & explain in detail. ASAP !

Problem 1 (40%). A company is planning its capital budget over the next several years. There are eight potential projects under consideration. A calculation has been made of the expected net present value of each project, along with the cash outflow that would be required over the next four years. These data, along with the cash that is available each year, are shown in the table below. (If any of the cash available in a given year is not fully used for these projects, it will be used in other ways and so will not be available in later years.) There also are the following special constraints: (a) at least one of project 1, 2, or 3 must be done, (b) project 6 and 7 cannot both be done, and (c) project 5 can only be done if project 6 is done. The objective is to determine which projects should be pursued to maximize the total expected net present value. Year 1 Year 2 Year 3 Year 4 NPV (Smil) 1 1 2 2 2 Cash Outflow Required ($million) Project 2 3 4 5 6 7 3 0 3 3 7 2 2 2 2 2 3 3 3 4 2 3 3 6 1 0 5 4 2 1 MOTO UNNW NO 8 5 4 2 2 Cash Available ($million) 20 20 20 20 10 12 11 15 2 24 17 16 18 Formulate a BIP model in algebraic form for this problem: (1) Define your decision variable, (2) Specify your objective function Z, (3) Specify all necessary constraints