WACC Solution Step Calculate unlevered cash flow(UCF) Cash inflows $1200000 Cash costs(77.5%) 930000 Operating income 270000 Tax(30%) 81000 UCF $189000WACC Solution Step 1 – Calculate unlevered cash flow (UCF) Cash inflows $1 200 000 Cash costs (77.5%) 930 000 Operating income 270 000 Tax (30%) 81 000 UCF $ 189 000