Denver Interiors has 64,000 shares of common stock outstanding at a price per share of $42. The firm also has 22,000 shares of preferred stock outstanding at a price per share of $51. There are 1,900 outstanding bonds with a face value of $1,200 and a price quote of 99.8. What is the capital structure weight of the preferred stock?

16.75 percent

18.97 percent

18.44 percent

19.26 percent