Bobby's Inc. has a $1 million bond issue outstanding that is selling at 101.3 % of face value. Bobby's also has 25,000 shares of preferred stock and 450,000 shares of common stock outstanding. The preferred stock has a market price of $36 a share compared to a price of $24 a share for the common stock. What is the weight of the debt as it relates to the firm's weighted average cost of capital? Select one: O a. 8.63% O b. 7.78 % c. 8.11% O d. 8.04% e. 7.97%