An all-equity firm is considering the following projects: Project Beta w .56 89 1.11 Z 1.49 NXX IRR 9.2 % 9.9 12.3 15.4 The T-bill rate is 4.4 percent, and the expected return on the market is 11.4 percent. a. Compared with the firm's 11.4 percent cost of capital, Project W has a lower expected return, Project X has a lower expected return, Project Y has a higher expected return, and Project Z has a higher expected return. V b. Project W should be rejected Y should be (Click to select) Project X should be (Click to select) Project and Project Z should be (Click to select) c. If the firm's overall cost of capital were used as a hurdle rate, Project W would be correctly accep Project X would be incorrectly rejec v Project Y would be (Click to select) and Project Z would be (Click to select) V