Question
Filer Manufacturing has 9,594,620 shares of common stock outstanding. The current share price is $51.48, and the book value per share is $3.23. Filer Manufacturing
Filer Manufacturing has 9,594,620 shares of common stock outstanding. The current share price is $51.48, and the book value per share is $3.23. Filer Manufacturing also has two bond issues outstanding. The first bond issue has a face value of $47,101,555, has a 0.07 coupon, matures in 7 years and sells for 94 percent of par. The second issue has a face value of $46,761,055, has a 0.07 coupon, matures in 14 years, and sells for 80 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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