Florida Groves has a $380,000 bond issue outstanding that is selling at 97.4% of face...
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Florida Groves has a $380,000 bond issue outstanding that is selling at 97.4% of face value. The firm also has 2,600 shares of preferred stock valued at $61 a share and 37,500 shares of common stock valued at $19 a share. What weight should be assigned to the common stock when computing the weighted average cost of capital? [Enter your answer as a percent with two decimal places. Do not use the percent sign. So, if your answer is 42.45 percent then just enter your answer as 42.45]
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