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The Auto Group has 1,000 bonds outstanding that are selling for $840 each. The company also has 8,300 shares of preferred stock at a market

The Auto Group has 1,000 bonds outstanding that are selling for $840 each. The company also has 8,300 shares of preferred stock at a market price of $65 each. The common stock is priced at $60 a share and there are 29,000 shares outstanding. What is the weight of the preferred stock as it relates to the firm's weighted average cost of capital?

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