11. Problem 10.12 (WACC) book Empire Electric Company (EEC) uses only gett and common equity. It can borrow unlimited amounts at an interest rate of -11% as long as itinents at its target capital structure, which calls foron debt and 60 common equity. Its last vidend (D) was $2.15, s expected constant growth rate is 4%, and its common stock sells for $27. Estax rate 25%. Two projects are available: Promecta hasarate de retum of 14 and Project By return s 94. These two projects are equally risky and about as risky as the firm's existing asmet What is its cost of common equity? Do not round intermediate calculations. Round your answer to two decimal places b. What is the WACC? Do not found intermediate calculations. Round your answer to two decimal places. c. Which projects should Empire accept