OMG Inc. has 6 million shares of common stock outstanding, 5 million shares of preferred stock outstanding, and 7,000 bonds. Suppose the common shares sell for $19 per share, the preferred shares sell for $18 per share, and the bonds sell for 108 percent of par.

What weight should you use for preferred stock in the computation of OMGs WACC?

(Round your answer to 2 decimal places.)

The answer will be less than 10%.