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show work As the newly hired CFO, you want to understand the cost...

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As the newly hired CFO, you want to understand the cost of funding your company. You had your team gather up inforation about debt and equity funding. Preferred stock: 23,500 shares of preferred stock Currently selling for $92 per share Cost of preferred stock = 5.11% Debt: Market value = $21,800,000 After-tax cost of debt = 4.62% Common stock: Market Value = $37,630,000 Beta is 1.19 Market: 5.4% risk-free rate 7% market risk premium tax rate is 25% What is the weight of Preferred Stock? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 12.34.) Weight of Preferred %

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