Question
Filer Manufacturing has 6,102,090 shares of common stock outstanding. The current share price is $31.46, and the book value per share is $7.62. Filer Manufacturing
Filer Manufacturing has 6,102,090 shares of common stock outstanding. The current share price is $31.46, and the book value per share is $7.62. Filer Manufacturing also has two bond issues outstanding. The first bond issue has a face value of $60,984,712, has a 0.08 coupon, matures in 10 years and sells for 91 percent of par. The second issue has a face value of $53,494,491, has a 0.09 coupon, matures in 24 years, and sells for 93 percent of par. What is Filer's weight of debt on a market value basis? Enter the answer with 4 decimals (e.g. 0.2345)
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