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Acme Manufacturing reports the following capital structure with amounts reported in $ millions: long-term debt of $340; present value of leases of $490; convertible debt

Acme Manufacturing reports the following capital structure with amounts reported in $ millions:

 long-term debt of $340; 

present value of leases of $490; 

convertible debt of $190; and 

common equity of $400. 


Further research indicates that the market value of the long-term debt is 115% of its book value, the market value of the convertible debt is 110% of its book value and (80% of the convertible debt is debt-related with the remainder equity-related, and the market value of the common equity is 430% of its book value. 


What should be the percentage (relative weight) of debt that to be included in the WACC calculation? 

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