Question
Filer Manufacturing has 7,685,436 shares of common stock outstanding. The current share price is $23.81, and the book value per share is $5.68. Filer Manufacturing
Filer Manufacturing has 7,685,436 shares of common stock outstanding. The current share price is $23.81, and the book value per share is $5.68. Filer Manufacturing also has two bond issues outstanding. The first bond issue has a face value of $62,971,672, has a 0.08 coupon, matures in 28 years and sells for 96 percent of par. The second issue has a face value of $60,919,534, has a 0.05 coupon, matures in 27 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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