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Fisheries Ltd has a target debt to equity ratio of 50%

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Fisheries Ltd has a target debt to equity ratio of 50%. Currently, its book debt to equity ratio is 70%, which is considered to be a temporary state by its management and would likely revert to the target ratio in the near future. The company has an after-tax market cost of debt of 10% and a market cost of equity of 20%. What is the weighted average cost of capital (WACC) for the company?

a. 10.00%

b. 15.70%

c. 16.66%

d. 33.33%