Taylor Enterprises has 12,000 bonds outstanding that have a 6% coupon rate. The bonds are selling at 98% of face value, pay interest semi-annually, and mature in 28 years. There are 400,000 shares of 9% preferred stock outstanding with a current market price of $83 a share. In addition, there are 1.40 million shares of common stock outstanding with a market price of $54 a share and a beta of 1.2. The common stock paid a total of $1.80 in dividends last year and expects to increase those dividends by 4% annually. The firms marginal tax rate is 34%. The overall stock market is yielding 12% and the U.S. Treasury bill rate is 4.0%.

What weight should be given to equity in the weighted average cost of capital computation?

please show the formula and then show the numbers pluged into the formula. NO EXCEL Tthank you