Robinson & Company Ltd. (RCL) has the following capital structure: 25% Debt and 75% common equity. The after-tax cost of debt is 15% and the cost of common equity is 25%. i) Given that the tax rate is 25%, what is the weighted average cost of capital? (4 marks) ii) RCL is considering a project with an internal rate of return of 25%. Based on the WACC calculated in part (i) above, should they accept this project? Explain. (4 marks) iii) How would the cost of capital be impacted by a decision to increase the amount of common equity to 85% and reducing the amount of debt to 15%? Explain without calculations