Question
Filer Manufacturing has 7,963,025 shares of common stock outstanding. The current share price is $56.73, and the book value per share is $4.77. Filer Manufacturing
Filer Manufacturing has 7,963,025 shares of common stock outstanding. The current share price is $56.73, and the book value per share is $4.77. Filer Manufacturing also has two bond issues outstanding. The first bond issue has a face value of $52,342,761, has a 0.05 coupon, matures in 8 years and sells for 82 percent of par. The second issue has a face value of $77,133,755, has a 0.06 coupon, matures in 24 years, and sells for 96 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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