Suppose the Schoof Company has this book value balance sheet:Balance SheetCurrent assets$50,000,000Current liabilities$30,000,000Notes payable$20,000,000Fixed assets70,000,000Long-term debt$30,000,000Common stock (1 million shares)$1,000,000Retained earnings$39,000,000Total assets$120,000,000Total liabilities and equity$120,000,000The notes payable are to banks, and the interest rate on this debt is 10%, the same as the rate on new bank loans. These bank loans are not used for seasonal financing but instead are part of the company s permanent capital structure. The long-term debt consists of 26,697 bonds, each with a par value of $1,000, an annual coupon interest rate of 12.0%, and a 11-year maturity. The going rate of interest on new long-term debt, rd, is 8.0%, and this is the present yield to maturity on the bonds. The common stock sells at a price of $78.00 per share. Calculate the firm s market value capital structure weight of long-term debt.