An all-equity firm is considering the following projects: Project W Beta .64 .75 1.31 1.42 IRR 9.5% 10.6 14.1 17.2 Z The T-bill rate is 5.2 percent, and the expected return on the market is 12.2 percent. a. Which projects have a higher/lower expected return than the firm's 12.2 percent cost of capital? Project W has a (Click to select) expected return, Project X has a (Click to select) expected return, Project Y has a (Click to select) expected return, and Project Z has a (Click to select) expected return. b. Which projects should be accepted? Project W should be (Click to select), Project X should be (Click to select). Project Y should be (Click to select), and Project Z should be (Click to select) 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 X would be (Click to select) Project Y would be (Click to select) and Project Z would be Project W would be (Click to select) (Click to select)