5. SML and WACC) An all-equity firm is considering the following projects: Beta Expected Return Project W .80 10% X .90 12% Y 1.45 13% Z 1.60 15% The T-bill rate is 5 percent, and the expected return on the market is 11 percent. [12 points, 4 each] a. Which projects have a higher expected return than the firm's 11 percent cost of capital? b. Which project should be accepted? c. Which projects would be incorrectly accepted or rejected if the firm's overall cost of capital were used as a hurdle rate