You are planning your project selection for the next year. Potential projects are classified in three types: New, Remake, and Extension. You have gathered different information for these projects and summarized it in the table below: Project A B C D E F G Profit $150,000 $90,000 $60,000 $80,000 $30,000 $40,000 $160,000 Cost $350,000 $165,000 $100,000 $60,000 $70,000 $240,000 $400,000 New Remake New Remake New Extension Extension Risk of failure Low Low Medium Low Medium Low Medium You would like to satisfy the below conditions: A budget of $1,000,000 Include at least one of each project type. Do not include more than one project with a medium risk of failure, if any. Project C requires input from Project D to be completed, so if Project D is selected, then Project D must also be selected. Select only one of the high cost / high profit projects (i.e., A or G) Formulate an IP model that will assist you in selecting which projects to select such that profits are maximized. (Do not solve using excel solver). 1 1