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Divisional Costs of Capital A. firm's cost of capital is often a reflection of its activities and funding needs. Consider the case of Wizard Company, and answer the following questions: Wizard Co. currently has only a real estate division and uses only equity capital; however, it is considering creating consulting and distribution divisions. Its beta is currently 1.1 . The risk-free rate is 4.2%, and the market risk premium is 6.4%. This means that the firm's real estate division will have a cost of capital of: 3.78% 8.40% 11.24% 8.82% The consulting division is expected to have a beta of 1.8 , because it will be riskier than the firm's real estate division. This means that the firm's consulting division will have a cost of capital of: 15.72% 17.07% 16.67% 18.22% The distribution division will have less risk than the firm's real estate division, so its beta is expected to be 0.6 . The distribution division will have less risk than the firm's real estate division, so its beta is expected to be 0.6 . This means that the distribution division's cost of capital will be: 8.04%16.47%17.77%17.67% Wizard Co. expects 70% of its total value to end up in the real estate division, 20% in the consulting division, and 10% in the distribution division. Based on this information, what rate of return should its investors require once it opens the new divisions? (Note: Round your intermediate calculations to two decimal places.) 14.67%13.12%16.57%11.82%