1.David Ortiz Motors has a target capital structure of 35% debt and 65% equity. The yield to maturity on the company's outstanding bonds is 11%, and the company's tax rate is 40%. Ortiz's CFO has calculated the company's WACC as 9.71%. What is the company's cost of equity capital? Round your answer to two decimal places.

2. A project has an initial cost of $35,325, expected net cash inflows of $13,000 per year for 7 years, and a cost of capital of 9%. What is the project's NPV? (Hint: Begin by constructing a time line.) Do not round your intermediate calculations. Round your answer to the nearest cent.

3. A project has an initial cost of $38,550, expected net cash inflows of $12,000 per year for 10 years, and a cost of capital of 14%. What is the project's MIRR? Do not round intermediate calculations. Round your answer to two decimal places.