This is a subjective question 2251 you have to WIT We are given the following information for Aravind Electronics Ltd., a electronic appliances manufacturer based out of Hyderabad, India. Tax rate is 35 percent. 2023/ Debt: 8,000 6.5 percent coupon bonds outstanding, $1,000 par value, 20 years to maturity, selling for 92 percent of par, the bonds make semiannual payments. - Common stock: 250,000 shares outstanding, selling for $57 per share; the beta is 1.05. - Preferred stock: 15,000 shares of 5 percent preferred stock outstanding, currently selling for $93 per share. - Market: 8 percent market risk premium and 4.5 percent risk-free rate a) What is Aravind's WACC? [8] b) Recently the CEO of Aravind Electronics announced that the company was planning to diversify into the Pharmaceuticals industry. Can Aravind [1] use the WACC calculated in part (a) above to evaluate the Pharmaceuticals project? Why or why not?