please show work

Proportion of firm's assets 40% 30% 30% Leveraged Beta Division Property Management Land Resources Financial Services 1.3 0.9 The overall leveraged beta for Dunphy is 1.2. The Land Resources division's capital structure is 65% debt and 35% equity. Dunphy is planning to finance new projects in that division with a capital structure of 80% debt and 20% equity. The risk free rate is 3%, and the market risk m is 8%. The pretax cost of debt for the company is 9% and the marginal tax rate is 39%. What discount rate should Dunphy apply to the cash flows for new projects in the Land Resources division? (Hint, calculate the Land Resources levered beta, then unlever, relever