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Problem 1 1 - 5 Spreadsheet Problem: Weight of Equity ( LG 1 1 - 4 ) FarCry Industries, a maker of telecommunications equipment, has

Problem 11-5 Spreadsheet Problem: Weight of Equity (LG11-4)
FarCry Industries, a maker of telecommunications equipment, has 3 million shares of common stock outstanding, 1 million shares of preferred stock outstanding, and 10,000 bonds. Suppose the common shares are selling for $28 per share, the preferred shares are selling for $15.00 per share, and the bonds are selling for 98 percent of par.
What would be the weight used for equity in the computation of FarCry's WACC?
Note: Round your answer to 2 decimal places.
Weight used
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