MSBuild target execution algorithm in pseudocode

MSBuildTargets.md

void ExecuteTarget(Target tgt)
{
    // Each target only runs once during an MSBuild invocation.
    if (tgt.State == Executed)
        return;

    // Note how the condition is evaluated prior to running the depended-on targets.
    if (Evaluate(tgt.Condition))
    {
        // TODO: BeforeTargets of other targets are also in DependsOnTargets, but how are they ordered?
        foreach (Target dep in Evaluate(tgt.DependsOnTargets))
        {
            ExecuteTarget(dep);
        }

        if (InputsNewerThanOutputs(tgt, out inputs))
        {
            ExecuteTasks(tgt.Body, inputs);
        }
        else
        {
            // When a target is incrementally skipped, its changes to properties
            // and items are still effected. This is known as "output inference".
            ExecutePropertyAndItemGroups(tgt.Body);
        }
    }

    // TODO: when are AfterTargets evaluated and in what order?
    foreach (Target dep in tgt.TargetsReferencingThisTargetViaAfterTargets)
    {
        ExecuteTarget(dep);
    }
}