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Corp Ltd has 1,500 ordinary shares outstanding in the market with a total market value of $15,457,000. Apart from equity, the company has also issued
Corp Ltd has 1,500 ordinary shares outstanding in the market with a total market value of $15,457,000. Apart from equity, the company has also issued 54,000 bonds, each of them with a yield to maturity of 5% p.a. compounded quarterly, a face value of $1,000 and paying quarterly coupons of $12.50. What is the weight of debt in this company's capital structure? Your response must be entered as a numerical value with 2 decimal places and excluding the percentage sign (\%)
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