A firm has 10,232 shares of common outstanding with a book value of $20 and a market value of $39 per share. There are 4,763 shares of preferred stock with a book value of $10 and a market value of $26. There is a $433,597 face value bond issue outstanding that is selling at 86% of par. What weight (P/V) should be placed on the preferred stock when computing the firm's WACC