Question
Filer Manufacturing has 9,893,589 shares of common stock outstanding. The current share price is $21.81, and the book value per share is $7.9. Filer Manufacturing
Filer Manufacturing has 9,893,589 shares of common stock outstanding. The current share price is $21.81, and the book value per share is $7.9. Filer Manufacturing also has two bond issues outstanding. The first bond issue has a face value of $67,593,513, has a 0.08 coupon, matures in 6 years and sells for 89 percent of par. The second issue has a face value of $41,607,683, has a 0.06 coupon, matures in 26 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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