anderson animations corporation has two divisions, l and h. division l is the company’s low-risk division and would have a weighted average cost of capital of 12% if it was operated as an independent company. division h is the company’s high-risk division and would have a weighted average cost of capital of 18% if it was operated as an independent company. because the two divisions are the same size, the company has a composite weighted average cost of capital of 15%. division l is considering a project with an expected return of 13.5%. anderson animations corporation shouldreject the division l’s project because its return isless than the risk-based cost of capital for the division.