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Suppose Westerfield Co . has the following financial information: Debt: 9 0 0 , 0 0 0 bonds outstanding with a face value of $

Suppose Westerfield Co. has the following financial information:
Debt: 900,000 bonds outstanding with a face value of $1,000. The bonds currently trade at 85% of par and have 12 years to maturity. The coupon rate equals 7%, and the bonds make semiannual interest payments.
Preferred stock: 600,000 shares of preferred stock outstanding; currently trading for $108 per share, paying a dividend of $9 annually.
Common stock: 25,000,000 shares of common stock outstanding; currently trading for $185 per share. Beta equals 1.22.
Market and firm information: The expected return on the market is 9%, the risk-free rate is 5%, and the tax rate is 21%.
Calculate the weight of the common stock in the capital structure. (Enter percentages as decimals and round to 4 decimals)

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