How would each of the following affect a firm's cost of debt, rd(1-1) its cost of equity, rs, and its weighted average cost of capital, WACC? Indicate by a plus (+), a minus (-)or a zero (O) if the factor would raise, lower or have an indeterminate effect on the item in question. Assume other things held constant. (4 points) rd (1-1) rs WACC Probable Effect on In December, the Federal Reserve is expected to lower rates With growth and increasing retained earnings, the firm uses less debt The new administration raises tax rates