Clark Explorers, Inc., an engineering firm, has the following capital structure:Using market value and book value (separately, of course), find the adjusted WACC for Clark Explorers at the following tax rates

	Equity	Preferred Stock	Debt
Market Price	$30.00	$110.00	$955.00
Outstanding units	120000	10000	6000
Book value	$3,000,000	$1,000,000	$6,000,000
Cost of capital	15.00%	12.00%	9.0%

aWhat is the market value adjusted WACC for Clark Explorers at a tax rate of 35%?

bWhat is the market value adjusted WACC for Clark Explorers at a tax rate of 25%?

c What is the market value adjusted WACC for Clark Explorers at a tax rate of 15%?

d What is the market value adjusted WACC for Clark Explorers at a tax rate of 5%?