19. If Risk free rate is 6%, Return on market is 12% and Beta is 2, a portfolio performance of 18% is: A. a risk-adjusted market return B. 6% inferior C. 12% inferior D. 6% superior 20. Tabaleka is proposing to undertake a scale expansion. It would cost $40 million and produce an expected cash flow of $8 million a year in perpetuity before tax. The tax rate is 34%. Tabaleka is financed 40% by debt. The expected return on Tabalekas's equity is 20% and the interest rate on its debt is 12%. What is the NPV of the project using the weighted average cost of capital? A. $-5.19 mil B. $-8.57 mil C. $-9.45 mil D. $ 5.19 mil