A company has four new text publishing products which it should decide on publishing to expand its services. Firm's WACC has been 17%. Projects are of equal risk, of 1.6. Risk-free rate is 7% and market rate is expected to be 12%. Projects are expected to earn as follows:
Project W: 14%
Project X: 18%
Project Y: 17%
Project Z: 15%
What projects must be selected and describe why?