You are given the following information concerning Around Town Tours Co, which is a publicly traded company. The tax rate is 34%. Common stock: 284,000 shares outstanding, selling for $68 per share. Preferred stock: 9,000 shares outstanding, currently selling for $88 per share, dividend is $8 per share. Debt: Total market value of debt is $7,342,500. What is the weight of debt? . a. 3.70% b. 70.54% c. 26.75% d. 2.89%