Decker's has 1,200 bonds outstanding that are currently selling for $982 each. These bonds have a face value of $1,000 each. The company also has 2,500 shares of preferred stock with $100 per share face value that have a current market price of $32 a share. The common stock is currently priced at $34 a share and there are 28,000 shares outstanding.
What is the weight of the common stock as it relates to the firm's weighted average cost of capital?
(round answer to whole number with one decimal point: i.e., use 15.2 percent instead of 0.1523)
