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Ajax has 1200 bonds outstanding with a face value of $1000 that are selling for par ($1000). The common stock has a value of $500,000

Ajax has 1200 bonds outstanding with a face value of $1000 that are selling for par ($1000). The common stock has a value of $500,000 in the balance sheet, a stock price of $40 per share and 25,000 shares outstanding. Find the weight of the common stock that you would use in the weighted average cost of capital (WACC)

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