Emple Electric Company (EEC) uses only debt and common equity. It can borrow unlimited amounts at an interest rate of rd = 10% as long as it finances at its target capital wtructure, which calls for 35% debt and 65% common equity. Its last dividend (D0) was $2.30, its expected constant growth rate is 6%, and its common stock sells for $29. EEC's tax rate is 25%. Two projects are available: Project A has a rote of return of 14%, and Project b's return is 9%. These two projects are equaliy risky and about as risky as the firm's existing assets. a. Whatis its cost of common equity? Do not round intermedate calculations. Round your answer to two decimal places. b. What is the WACC? Do not reund intermediate caloulations. Round your answer to two decimal places. c. Which projects should Empire accept