A firm has 12,000 shares of common stock outstanding with a market value of $41 per share. There are 5,000 shares of preferred stock with a market value of $28. There is a $400,000 face value bond issue outstanding that is selling at 82% of par. What weight should be placed on the preferred stock when computing the firm's WACC? Enter your answer as a percentage rounded to 2 decimal places. (An answer of 5.125% would be entered as 5.13).