An all-equity firm is considering the following projects: Project Beta Expected Return W 0.80 10% 0.90 12% Y 1.45 13% Z 1.60 15% The T-bill rate is 5%, and the expected return on the market is 11%. (0) Indicate the projects that have higher expected return than the firm's 11% cost of capital. (2 marks) (ii) Calculate which project should be accepted. (12 marks) (ii) Determine which projects would be incorrectly accepted or rejected if the firm's overall cost of capital were used as a hurdle rate