Embire Electric Company (EEC) uses only debt and cammon equity. It can borrow unlmited amounts at an interest rate of re =11% as lang as it finances at its target capital structure, which califs. for 30% debt and 70% common equity. Its last didend (Do) was $3.05, its expected constant gronth rate is 3\%, and is commen stock sells for $29, EEC's tax rate is 25%6. Two projects are wailable: Project A has a rate of retyrn of 15%, and Project B's tetum is 12%. These two projects are equally nisky and about as risky as the firm's existang assets. a. What is its cost of common equity? Da not round intermediate calailstions, flound your answer to the deomal place. c. Whach projects theyM Empire eccetil