Empire Electric Company (EEC) uses only debt and common equity. It can borrow unlimited amounts at an interest rate of rd = gos as fong as it finances at its target capital structure, which calls for 25% debt and 75% common equity. It. last dividend (D0) was $2.05, its expected constant growth rate. is 5%, and ite common stock sells for $29. EEC's tax rate is 25%. Two projects are avallable; Project a has a rate of return of 14%6 and Project B's return is. 9%. These two projects are equally risky and about as risky as the firm's axksting assatsi: 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? bo not round intermedate calculations. Round your answer to two decimal places, 46 c. Which projects should tmpire accept