FarCry Industries, a maker of telecommunications equipment, has 3 million shares of common stock outstanding, 1 million shares of preferred stock outstanding, and 10,000 bonds. Suppose the common shares sell for \\( \\$ 27 \\) per share, the preferred shares sell for \\( \\$ 14.50 \\) per share, and the bonds sell for 98 percent of par. What weight should you use for preferred stock in the computation of FarCry's WACC? Note: Round your answer to 2 decimal places