An all-equity firm is considering the following projects:

Project	Beta			IRR
W		.53			10.2	%
X		.92			10.7
Y		1.08			14.2
Z		1.52			17.2

The T-bill rate is 5.2 percent, and the expected return on the market is 12.2 percent.

If the firm's overall cost of capital were used as a hurdle rate, Project W would be
	, Project X would be	correctly rejected	Project Y would be
	, and Project Z would be	correctly accepted