Empire Electric Company (EEC) uses only debt and common equity. It can borrow unlimited amounts at an interest rate ofre -10% as long as it finances at its target capital structure, which calls for 45% debt and 55% common equity. Its tast dividend (Do) was $2.55, its expected constant growth rate is 4%, and its common stock sells for $22. EEC tax rate is 25%. Two projects are available: Project A has a rate of return of 14%, and Project B's return is 9%. These two projects are equally risky and about as risky as the firm's existing assets. a. What is its cost of common mauity? 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