P14-2 (similar to) (Defining capital structure weights) In August 2015 the capital structure of the Emerson Electric Corporation (EMR) (measured in book and market values) was as follows ($ Millions) Short-term debt Long-term debt Common equity Total capital Book Value $2,617 4,315 7,983 $14,915 Market Value $2,617 4,315 35,689 $42,621 What weights should Emerson use when computing the firm's weighted average cost of capital? The appropriate weight of debt, wd, is 1%. (Round to one decimal place.)