You should reject both projects because they will both have negative NPVs under the new conditions. You should recommend Project L, because at the new WACC it will have the higher NPV. You should delay a decision until you have more information on the projects, even if this means that a competitor might come in and capture this market. D Question 27 20 pts What is the covariance between Stock 1 and Stock 2's returns? Expected Return Probability Stock 1 Stock 2 Good Economy 0.2 0.91 0.02 Okay Economy 0.5 0.19 -0.06 Bad Economy 0.3 -0.50 -0.28 MacBook Pro