A 44-year-old male with a 5-year history of cough, sputum production, and wheezing. Three days prior to admission, he developed worsened cough and wheezing with yellow sputum after catching a cold. On admission: barrel chest, hyperresonance on percussion, liver-lung border at the seventh intercostal space along the right midclavicular line, bilateral wheezes and crackles with scattered wheezes. Pulmonary function tests: FEV1/FVC ratio 56%, maximal voluntary ventilation (MVV) 60%, reduced vital capacity (VC), residual volume/total lung capacity (RV/TLC) 43%. On day 2, he developed chest pain and dyspnea after exertion. Examination revealed tympany on percussion of the right chest and absent breath sounds with cyanosis. What is the most likely diagnosis on admission?