Problem 11-9 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 $27 per share, the preferred shares are selling for $14.50 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? (Round your answer to 2 decimal places.) Weight used %