You are given following data on XYZ industries ......

Expected growth rate for dividends = 5.0%

Last Dividends paid (DO) = $.80

Flotation costs for issuing new common shares = 4.0%

Current price of common stock = $20.00

# shares outstanding = 10,000,000

Expected addition to retained earnings = $ 2,400,000

YTM on bonds = 4.50%

Tax rate = 21.00%

Book value of debt = $ 50,000,000

Calculate XYZ weight debt