The University Bookstore at Tech is considering several expansion projects, including

developing a store Web site for online retail and catalog purchases, buying an off$-$

campus warehouse and its subsequent expansion, developing a clothing and gift

department specializing in university logo apparel, opening a computer department

carrying both hardware and software products, and creating a banking pavilion of three

automated teller machines outside the store. Some of the projects will be developed

over a $2-$year period and some over a $3-$year period, as funds permit. The net present

value costs per year and the projected net present value of returns for a $5-$year period

for each of the projects are shown in the following table:

$$ In addition, the store does not have enough space available to create both a computer

department and a clothing department. The bookstore director wants to know which

projects to select to maximize returns.