The Auto Group has 1.000 bonds outstanding that arc selling for $960 each. The company also has 9, 500 shares of preferred stock at a market price of $75 each. The common stock Is priced at $70 a share and there are 41.000 shares outstanding. What is the weight of the preferred stock as it relates to the firm's weighted average cost of capital? 63.18 percent 7.84 percent 15.69 percent 31.37 percent 21.13 percent