Question
Filer Manufacturing has 9,379,901 shares of common stock outstanding. The current share price is $26.69, and the book value per share is $8.42. Filer Manufacturing
Filer Manufacturing has 9,379,901 shares of common stock outstanding. The current share price is $26.69, and the book value per share is $8.42. Filer Manufacturing also has two bond issues outstanding. The first bond issue has a face value of $79,578,115, has a 0.05 coupon, matures in 13 years and sells for 91 percent of par. The second issue has a face value of $61,215,102, has a 0.06 coupon, matures in 23 years, and sells for 92 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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