Question
Filer Manufacturing has 4,372,396 shares of common stock outstanding. The current share price is $63.96, and the book value per share is $3.69. Filer Manufacturing
Filer Manufacturing has 4,372,396 shares of common stock outstanding. The current share price is $63.96, and the book value per share is $3.69. Filer Manufacturing also has two bond issues outstanding. The first bond issue has a face value of $55,719,562, has a 0.07 coupon, matures in 7 years and sells for 80 percent of par. The second issue has a face value of $48,080,635, has a 0.07 coupon, matures in 18 years, and sells for 97 percent of par. What is Filer's weight of equity on a market value basis? Enter the answer with 4 decimals (e.g. 0.2345)
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