Woodcutters, Inc. has 20,000 shares of common stock outstanding at a market price of $16 a share. There are 7,000 shares of 8 percent preferred stock outstanding at a market price of $32 a share. The firm has 500 bonds outstanding with a face value of $1,000 and a market price of $980. The firm's tax rate is 34 percent. What weight should be assigned to the cost of common stock when computing the weighted average cost of capital