Question 12 1 pts Which of the following statements provide an accurate description of the impact of taxes in the estimation of a company's weighted average cost of capital (WACC), keeping all other non-tax related factors constant? O (a) As the proportion of tax that can be claimed back by shareholders (through franking credits) increases, the tax advantage of debt also tends to increase. O (b) As the effective tax rate increases, the after-tax cost of equity increases. (c) As the effective tax rate increases, a levered firm's WACC tends to increase. O (d) More than one of the above statements are correct. 0 (e) None of the above statements is correct