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A firm has 1 million shares of common stock and 50,000 bonds. The common stock is priced at $104/share and the bonds are priced at

A firm has 1 million shares of common stock and 50,000 bonds. The common stock is priced at $104/share and the bonds are priced at par. The tax rate is 21%. What is the weight of debt in the capital structure? (Report your answer as a decimal to three decimal places, e.g. 31.9% is 0.319)

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