You work for Microsoft Corporation (ticker: MSFT), and you are considering whether to develop a new software product. The risk of the investment is the same as the risk of the company. a. Using the data in Table 13.1 and in the table, calculate the cost of capital using the FFC factor specification if the current risk-free rate is 3.1% per year. b. Microsoft's CAPM beta over the same time period was 0.92. What cost of capital would you estimate using the CAPM? Click on the following icon in order to copy its contents into a spreadsheet.) (Click on the following icon in order to copy its contents into a spreadsheet.)