Anadolu Efes is a producer of beer and non-alcoholic beverages with a capital structure of 28% debt and 72% equity. The debt sells at par and pays an interest of 5%. Its share has a beta of 0.9. Assume that Anadolu Efes pays 21% tax. a. Calculate Anadolu Efes's cost of equity capital. Assume a 4% risk-free rate and 7% market premium. (Intermediate calculations should not be rounded. Enter your answer as a percent rounded to 2 decimal places.) b. Calculate the WACC of Anadolu Efes. Assume a 4% risk-free rate and 7% market premium. (Intermediate calculations should not be rounded. Enter your answer as a percent rounded to 2 decimal places.) c. Should Anadolu Efes approve a project with an IRR (internal rate of return) of 12% assuming that the project has the same amount of risk as the current firm? a. Cost of equity capital b. WACC c. Approve the project % %