Empire Electric Company (EEC) uses only debt and common equity. It can borrow unlimited amounts at an interest rate. of rd - 11% as long as it finances at its target capital structure, which calis for 40% debt and 60% common equity. Its last dividend (Do) was $3.05, its expected constant orowth rate is 6%, and its common stock. sells for 528. EC's tax rate is 25%. Two projects are available: Project A has a rate of return of 14%, and Project B's return is 10%. These two projects are equally risky and about as risky as the firm's existing assots. a. What is its cost of common equity? Do not round intermediate calculations. Flound your answer to two decimal places. b. What is the WACC? Do not round intermediate calculations. Round your answar to two decimal places, c. Which projects should Empire accept