Effective January 1, 2018, U.S. corporate tax rates were reduced from a maximum 35% to 21%. What impact does this have on a companys WACC? Does it have a greater impact on companies that use a high level of debt than on companies that use a lower level of debt? Explain. Is it likely to have an impact on a companys capital structure, i.e., might a company change its weighting of debt vs equity?