QUESTION 3 Green Refinery Bhd (Green) is a palm oil refinery manufacturer wishes to embark into medical supplies in view of good market outlook in the health industry. Currently, the equity to debt ratio Green is 4 to 1 with a beta value of 1.25. Mask Protect Bhd (Mask) has been identified as a proxy company to undertake project in medical supplies with equity beta value of 1.85 and has equity to debt ratio of 3 to 2. The rate of return of a risk-free asset is expected to be at 5%. The average return on stock market is 12% and the corporate tax is 24%. Required: Compute the suitable project specific cost of discount rate for Green in new project. (2 marks)