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: 28% and cost of 21.69% Preferred stock: 15% and cost of 15.46% Debt: 57% and cost of 12.7% before taxes What is the adjusted WACC for Lewis if the tax rate is a. 40%? What is the adjusted WACC for Lewis if the tax rate is 40%