Claycott Pharmaceuticals is considering two projects. They have determined that the expected net present value of profits from Project Local are $2,537,410 and the expected net present value of profits from Project Expand are $2,267,850. They found these profits using a corporate cost of capital of 9%. After further research, Claycott Pharmaceuticals decided that Project Local is less risky than their average project, and that Project Expand is more risky than their average project. Claycott accounts for risk by adjusting its corporate cost of capital up or down by 2 percentage points. The risk-adjusted corporate cost of capital that should be used to determine the expected profits from Project Local is and the risk-adjusted corporate cost of capital that should be used to determine the expected profits from Project Expand is " a) 7%; 5% b) 13%; 11% c) 7%; 11% d) 11%; 7%