ellook Empire Electric Company (EEC) uses only debt and common equity. It can borrow unlimited amounts at an interest rate of re- 10% as long as it finances at its target capital structure, which cals for 35% debt and 65% com growth rate is 6%, and its common stock sells for $22. FEC's tax rate is 25%. Two projects are available: Project A has a rate of return of 15%, and Project B's return is 12%. These two projects are equally risky and about a. What is its cost of common equity? Do not round intermediate calculations. Round your answer to two decimal places % b. What is the WACC? Do not round intermediate calculations. Round your answer to two decimal places. c. Which projects should Empire accept? -Select- Princ A Project Key can borrow unlimited amounts at an interest rate of re s 25%. Two projects are available: Project A has a rate tations. Round your answer to two decimal places. our answer to two decimal places. 10% as long as it finances at its target capital structure, which calls for 35% debt and 65% comman equity. Its last dividend (Dal was $2.15, its expected constant of return of 15%, and Project B's return is 12%. These two projects are equally risky and about as risky as the firm's existing assets