1. Problem 13-4

   Willerton Industries Inc. has the following balances in its capital accounts as of 12/31/X3:

   Long-term debt	$55000000
   Preferred stock	25000000
   Common stock	50000000
   Paid in excess	15000000
   Retained earnings	42500000

   Company's long-term debt is comprised of 20-year $1000 face value bonds issued 7 years ago at an 8% coupon rate. The bonds are now selling to yield 6%. Willerton's preferred is from a single issue of $100 par value, 9% preferred stock that is now selling to yield 8%. Willerton has 4 million shares of common stock outstanding at a current market price of $33. Calculate Willerton's market value-based capital structure. Assume that the coupon payments are semi-annual. Round the market values to the nearest dollar and the weights to two decimal places of percentage. Do not round your intermediate calculations.

   	Market Value	Weight
   Debt	$ fill in the blank 1	fill in the blank 2%
   Preferred stock	fill in the blank 3	fill in the blank 4%
   Equity	fill in the blank 5	fill in the blank 6%
   	$ fill in the blank 7	fill in the blank 8%