2. (10 pt) Multi-Pine Corporation, a multi-divisional firm funded by 100% equity, is considering the following two independent projects. The risk-free rate is 3%, and the expected return on the market is 11%. The company's overall cost of capital is 10.5%. Which project should be accepted and which project should be rejected? Show your analysis and briefly state your reasoning. Project Division Utilities Retail Beta 0.8 1.3 IRR 10.0% 12.0%