Wowy Tourism Services Corporation went public by issuing $920,000$ shares of common stock at $$20$ per share. The shares are currently trading at $$30$ per share. Current risk free rate is $4\%$ and market risk is $13\%$ and the company has a beta coefficient of $1\mathrm{.}3.$ During last year, Wowy issued $92,000$ bonds, the face value of bonds is $$1,000$ and the bonds are currently trading at $$930.$

a$/$ Calculate the cost of equity? If the tax rate is $30\%,$ the cost of debt is $8\%,$ calculate the weighted average cost of capital?

b$/$ Wowy Corporation is considering a project that is equally as risky as its WACC.The project has an initial cash outflow of $$2\mathrm{.}1$ million and annual cash inflows of $$750,000$ at the end of each year for three years, and $$300,000/$ year forever after the third year. Should Wowy Corporation invest this project?