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Aluminum maker Alcoa has a beta of about 1.82, whereas Hormel Foods has a beta of 0.35. If the expected excess return of the market portfolio is 6%, which of these firms has a higher equity cost of capital, and how much higher is it? Alcoa's equity cost of capital is [%. (Round to two decimal places.) River Rocks, whose WACC is 11.4%, is considering an acquisition of Raft Adventures (whose WACC is 15.7%). The purchase will cost $101.5 million and will generate cash flows that start at $15.8 million in one year and then grow at 4.1% per year forever. What is the NPV of the acquisition? The net present value of the project is $ million. (Round to two decimal places.)