12:55 Adjusted WACC. Lewis runs an outdoor adventure company and wants to know what effect a tax change will have on his company's WACC. Currently, Lewis has the following financing pattern: Equity: 35% and cost of 14.93% Preferred stock: 12% and cost of 11.88% Debt: 53% and cost of 8.4% before taxes What is the adjusted WACC for Lewis if the tax rate is a. 35%? What is the adjusted WACC for Lewis if the tax rate is 35%? (Round to two decimal places.)