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% Preferred stock: 15% and cost of 11% Debt: 50% and cost of 10% before taxes What is the adjusted WACC for Lewis if the tax rate is a. 40%? b. 30%? c. 20%? d. 10%? e. 0%