8. Woodcutters, Inc. has 10,000 shares of common stock outstanding at a price of S18 a share. There are 9,000 shares of 7 percent preferred stock outstanding at a price of $22 a share. The firm has 400 bonds outstanding with a face value of $1,000 each that are selling at 99 percent of face value. The tax rate is 34 percent. What weight should be assigned to the common stock when computing the weighted average cost of capital? a. 23.26 percent b. 26.32 percent c. 49.19 percent d. 51.37 percent