Weight of Preferred Stock FarCry Industries, a maker of telecommuni- cations equipment, has 2 million shares of common stock outstanding, 1 million shares of preferred stock outstanding, and 10,000 bonds. If the common shares sell for $27 per share, the preferred shares sell for $14.50 per share, and the bonds sell for 98 percent of par, what weight should you use for preferred stock in the computation of FarCry's WACC? (LG4)