You are given the following information for Breckenridge, Inc.:

Debt: 28,000 8% coupon bonds outstanding, with 18 years to maturity and quoted price of 96. The bonds pay interest semiannually.

Common Stock: 68,000 shares of common stock selling for $45 per share. The stock has a beta of 0.8% and will pay a dividend of $2.70 next year. The dividend is expected to grow by 3.2% per year indefinitely

Preferred Stock: 28,000 shares of 3.5 preferred stock selling at $117 per share

Market: 10.1% expected return , risk-free rate of 3.2%, and a 39% tax rate.

What weight should Breckenridge use for equity when calculating the cost of capital?