Problem 11-9 Weight of Equity (LG11-4)

FarCry Industries, a maker of telecommunications equipment, has 5 million shares of common stock outstanding, 2 million shares of preferred stock outstanding, and 20,000 bonds. Suppose the common shares are selling for $26 per share, the preferred shares are selling for $14.00 per share, and the bonds are selling for 97 percent of par.

What would be the weight used for equity in the computation of FarCrys WACC? (Round your answer to 2 decimal places.)

Weight used

%