- SS 8 Chapter 2 : MM proposition 2 with taxes - Schweser says : Cost of equity = K(e) = Wacc + { Wacc - K(d) x (1-t) } x Debt/Equity Curriculum says : Cost of equity = K(e) = Wacc + { Wacc - K(d) } x (1-t) x Debt/Equity Notice the difference in the place of the closing curly brace. So which one is it? Thanks.