Suppose IMB is evaluating three projects. Each project has a cost of $100 million. They will all be financed using the target mix of long-term debt, preferred stock, and common equity. The cost of the common equity for each project should be based on the beta estimated for the project. All equity will come from reinvested earnings. a. (1) Equity invested in Project A would have a beta of 0.5 and an expected return of 3%. b. (2) Equity invested in Project B would have a beta of 1.0 and an expected return of 5%. c. (3) Equity invested in Project C would have a beta of 2.0 and an expected return of 9%. (10 Points) Calculate the weighted average cost of capital for each project. In your report, identify which project should be accepted and which should be rejected.