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Equity: 3 5 % and cost of 1 4 . 0 0 % Preferred stock: 1 5 % and cost of 1 1 . 0

Equity: 35% and cost of 14.00%
Preferred stock: 15% and cost of 11.00%
Debt: 50% and cost of 10.0% before taxes
What is the adjusted WACC for Lewis if the tax rate is
a.40%?
b.30%?
c.20%?
d.10%?
e.0%?
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