An all-equity firm is considering the following projects: 1 Project W X Y Z Beta .80 .90 1.10 1.35 IRR 9.3% 11.4 12.1 15.1 The T-bill rate is 4 percent, and the expected return on the market is 12 percent a. Which projects have a higher expected return than the firm's 12 percent cost of capital? expected return, Project X has a Project W has a expected return, and Project Z has a expected return, Project Y has a expected return. b. Which projects should be accepted? Project W should be Project Y should be Project X should be and Project Z should be c. Which projects will be incorrectly accepted/rejected or correctly accepted/rejected if the firm's overall cost of capital were used as a hurdle rate? Project W would be Project Y would be Project X would be and Project Z would be