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A company has shares worth $30 dollars per share, with 1,000,000 shares outstanding. It also has 10,000 bonds outstanding, which have face values of $1,000

A company has shares worth $30 dollars per share, with 1,000,000 shares outstanding. It also has 10,000 bonds outstanding, which have face values of $1,000 each and a coupon rate of 4%. These bonds are currently trading at par value. Using the market value approach, what is the weight of debt for this company?

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