The firm has a beta of $1\mathrm{.}10$ with the risk$-$free rate of $5\%$ and a market risk premium of $6\%.$ Dividends are forecasted to be $$1$ in year $1$ with a current price of $$15$ and a growth rate of $4\%.$ The bond$-$yield$-$risk premium is $3\%.$ Current semiannual bonds are priced at $$800$ with $25$ years to maturity and a coupon rate of $8\%.$ The firm has no notes payable. Preferred stock has a face amount of $$100$ with a $7\%$ dividend rate and are currently selling for $$98$ each. The firm can fund this asset growth with reinvested earnings, so they would not have to sell new securities$.$

The firm currently has $40,000$ bonds outstanding at the $$1,000$ par value for use with book value and market value calculations. It also has $100,000$ shares of preferred stock outstanding at the stated par value for the same use. The firm has $4,000,000$ shares of common stock outstanding with the accountants indicating a book value of $$30,000,000($just giving the total here$)$ of all common stock accounts combined. Management has just set a target capital structure of $30\%$ debt; $10\%$ preferred stock; and $60\%$ common equity.

Calculate the weights for the market value approach. What is the specific market value weight for just common stock? Express in the form xx$.$xx such as $30\mathrm{.}25\%,$ but do not place the percentage sign in the answer. Note: Not all information is used.

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