The Auto Group has 1,000 bonds outstanding that are selling for $800 each. The company also has 7, 900 shares of preferred stock at a market price of $45 each. The common stock is priced at $40 a share and there are 25,000 shares outstanding. What is the weight of the preferred stock as it relates to the firm's weighted average cost of capital? 8.25 percent 46.39 percent 32.99 percent 16.49 percent 37.11 percent