N all-equity firm is considering the following projects: Project Beta IRR W .68 10.2 % X .75 10.7 Y 1.39 14.2 Z 1.50 17.2 The T-bill rate is 5.2 percent, and the expected return on the market is 12.2 percent. a. Compared with the firm's 12.2 percent cost of capital, Project W has a expected return, Project X has a expected return, Project Y has a expected return, and Project Z has a expected return. b. Project W should be , Project X should be , Project Y should be , and Project Z should be . c. If the firm's overall cost of capital were used as a hurdle rate, Project W would be , Project X would be , Project Y would be , and Project Z would be .