Question
Filer Manufacturing has 7,951,169 shares of common stock outstanding. The current share price is $21.13, and the book value per share is $9.53. Filer Manufacturing
Filer Manufacturing has 7,951,169 shares of common stock outstanding. The current share price is $21.13, and the book value per share is $9.53. Filer Manufacturing also has two bond issues outstanding. The first bond issue has a face value of $53,923,041, has a 0.06 coupon, matures in 16 years and sells for 96 percent of par. The second issue has a face value of $43,673,965, has a 0.04 coupon, matures in 23 years, and sells for 86 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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