Singa Group is a Singaporean multinational companies. Below are the pertaining informations of the company.

Estimated return of the Singaporean market portfolio 15%

Singapore 10-Year Government Bond 3%

Singa Groups beta 1.35 Cost of debt before tax 6%

Singapores Corporate Tax 17%

Optimal Capital Structure (Portion of Debt) 30%

Optimal Capital Structure (Portion of Debt) 70%

Assume that 40% of Singa Group debt is denominated in foreign currencies, at fixed average interest rate of 6%. If the foreign currencies, overall, are expected to depreciate slightly at 5%, against Singapore Dollar, and the international Fisher effect does not hold, assess how this would affect the companys WACC, and re-compute (revise) the WACC.