An all$-$equity firm is considering the projects shown below. The T$-$bill rate is $5$ percent and the market risk premium is $9$ percent.

Calculate the project$-$specific benchmarks for each project. $($Round your answers to $2$ decimal places.$)$

If the firm uses its current WACC of $16$ percent to evaluate these projects, which project, will be incorrectly rejected?

Project A

Project B

Project C

Project D