1. Reliance Corp has 100 million shares outstanding trading for $25 per share. In addition, Reliance has $250 million in outstanding debt. The risk free rate of return is 5%, expected market return in 11% and Reliance's beta is 1.5. Reliance's debt cost of capital is 7.5%, and the corporate tax rate is 30%. [6 marks) a. What is Reliance's unlevered cost of capital? (2 marks) b. What is Reliance's after-tax debt cost of capital? (1 marks) c. What is Reliance's weighted average cost of capital? (2 marks) d. What is the difference between unlevered and weighted average cost of capital (WACC)? (1 marks)