Date	APPL	SPY		Capital structure and WACC
1/1/2018	39.80228	258.8217			2022
2/1/2018	42.34356	249.4108		Total Asset	352755000000
3/1/2018	40.0481	241.6068		Common Stock	50672000000
4/1/2018	39.44659	243.8281		Preferred Stock	0
5/1/2018	44.60477	249.7553		Liabilities	302083000000
6/1/2018	44.35506	250.0687
7/1/2018	45.59626	260.4974		Cost of debt (pre-tax)	5.80%
8/1/2018	54.54347	268.8124		Tax rate	21%
9/1/2018	54.2803	269.192
10/1/2018	52.62597	251.7241
11/1/2018	42.94046	256.3934
12/1/2018	38.06171	232.4609		FCFF and Firm Value
1/1/2019	40.16097	252.5392			2021	2022
2/1/2019	41.78004	260.7255		Total Current Assets	134836000000	135405000000
3/1/2019	46.03035	264.2806		Total Current Liabilities	125481000000	153982000000
4/1/2019	48.62812	276.2887
5/1/2019	42.42451	258.6695		Capital spending		22354000000
6/1/2019	48.14642	275.3303
7/1/2019	51.82454	280.8525		EBIT		119437000000
8/1/2019	50.77851	276.1501		Depreciation		11104000000
9/1/2019	54.69039	280.2293		Taxes		19300000000
10/1/2019	60.74378	287.7464
11/1/2019	65.25878	298.1623
12/1/2019	71.92059	305.3244
1/1/2020	75.80501	306.7016
2/1/2020	66.95116	282.4214
3/1/2020	62.42836	245.7101
4/1/2020	72.12809	278.5396
5/1/2020	78.05447	291.8107
6/1/2020	89.80107	295.6846
7/1/2020	104.6301	314.476
8/1/2020	127.0606	336.4253
9/1/2020	114.2392	322.5373
10/1/2020	107.3834	315.7542
11/1/2020	117.4352	350.1009
12/1/2020	131.116	361.5305
1/1/2021	130.3947	359.3717
2/1/2021	119.8216	369.3642
3/1/2021	120.8814	384.8726
4/1/2021	130.0947	406.5636
5/1/2021	123.3159	409.2331
6/1/2021	135.7679	417.0468
7/1/2021	144.5904	428.6256
8/1/2021	150.5084	441.3815
9/1/2021	140.4785	419.4669
10/1/2021	148.7186	450.3362
11/1/2021	164.1067	446.7179
12/1/2021	176.5454	465.7413
1/1/2022	173.7715	442.7275
2/1/2022	164.1672	429.6595
3/1/2022	173.8236	444.4299
4/1/2022	156.94	406.6822
5/1/2022	148.1697	407.6002
6/1/2022	136.3042	372.3807
7/1/2022	162.0158	408.429
8/1/2022	156.7419	391.7643
9/1/2022	137.9711	354.0927
10/1/2022	153.086	384.4446
11/1/2022	147.7849	405.8165
12/1/2022	132.37	378.2829
12/19/2022	132.37	380.02

6 points Use the following table to compute APPL's capital structure weights (weight on common equity and weight on debt). What is the weight on debt