Jericho Corp has a market value of equity of $3 million, and the value of its debt is $2 million. Jericho Corp's stock beta is 11 and the expected market risk premium is 10%. The Treasury bill rate is 5%, and Jericho Corp's debt is considered not to have any default risk. a. What is the required rate of return on Jericho Corp's equity? (Do not round intermediate calculations. Enter your answer as a whole percent.) b. Estimate the WACC assuming a tax rate of 21 . (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) c. Estimate the discount rate for an expansion of the company's present business. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) d. Jericho Corp is considering opening a new division manufacturing musical instruments. The beta of musical instrument manufacturers with no debt outstanding is 1.3 . What is the required rate of return on Jericho Corp's new division? (You should assume that the risky project will not enable the firm to issue any additional debt.) (Do not round intermediate calculations, Enter your answer as a whole percent.)