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: 37% and cost of 20.41%

Preferred stock:14% and cost of 14.95%

Debt: 49% and cost of 13.1% before taxes

What is the adjusted WACC for Lewis if the tax rate is

a.

35%? ______________

b.

30%?______________

c.

20%?________________

d.

10%?________________

e.

0%?_________________