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Genedak$-$Hogan's WACC and Effective Tax Rate. Use the table in the popup window, $,$ to answer the problem. Genedak$-$Hogan $($G$-$H$)$ is an American conglomerate that is actively debating

the impacts of international diversification of its operations on its capital structure and cost of capital. The firm is planning on reducing consolidated debt after diversification. Senior management

at Genedak$-$Hogan is actively debating the implications of diversification on its cost of equity. All agree that the company's returns will be less correlated with the reference market return in

the future, the financial advisors believe that the market will assess an additional $3\mathrm{.}2\%$ risk premium for "going international" to the basic CAPM cost of equity. Many MNEs have greater ability to

control and reduce their effective tax rates when expanding international operations. Assume that Genedak$-$Hogan was able to reduce its consolidated effective tax rate from $39\%$ to $35\%$ after

international diversification.

a$.$ Calculate the weighted average cost of capital for Genedak$-$Hogan before and after international diversification.

b$.$ Adding the hypothetical risk premium to the cost of equity $($an added $3\mathrm{.}2\%$ to the cost of equity because of international diversification$),$ what is the firm's WACC before and after

international diversification?

c$.$ If Genedak$-$Hogan was able to reduce its consolidated effective tax rate from $39\%$ to $35\%,$ what would be the impact on its WACC?

a$.$ Without the hypothetical additional risk premium, what is Genedak$-$Hogan's cost of equity before international diversification of its operations?

$\%($Round to two decimal places.$)$

Data table

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