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I would like a step by step solution on this problem. Pharoah Inc. now has the following two projects available: Assume that RF=3.6 percent, risk

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Pharoah Inc. now has the following two projects available: Assume that RF=3.6 percent, risk premium = 9.1 percent, and beta =1.2. Use the chain replication approach to determine which project Pharoah Inc. should choose if they are mutually exclusive. (Round cost of capital and final answers to 2 decimal places, e.g.17.35\% or 2,513.25

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