Question $16(6\mathrm{.}7$ points$)$

ABC Company has $5,000$ bonds outstanding with a $$1,000$ par value per bond selling for $$1,100$ each, $100,000$ shares of common stock with a market price of $$45,$ and $1,000$ shares of $$100$ par value preferred stock selling at par. What is the weight attached to debt?

$49\mathrm{.}50\%$

$54\mathrm{.}46\%$

$52\mathrm{.}63\%$

$55\mathrm{.}00\%$

Cannot be determined without the tax rate