An all-equity firm is considering the following projects: Project Beta w .85 X .92 Y 1.09 Z 1.35 IRR 8.9% 10.8 12.8 13.3 The T-bill rate is 4 percent, and the expected return on the market is 11 percent. a. Compared with the firm's 11 percent cost of capital, Project W has a flower expected return, Project X has a lower expected return, Project Y has a Thigher expected return, and Project Z has a Thigher expected return b. Project W should be rejected accepted Project Y should be should be rejected Project X should be accepted and Project 2 c. If the firm's overall cost of capital were used as a hurdle rate, Project W would be correctly rejected . Project X would be correctly accepted Project Y would be correctly accepted and Project Z would be correctly rejected correctly accepted correctly rejected incorrectly accepted incorrectly rejected