FarCry Industries, a maker of telecommunications equipment, has 5 million shares of common stock outstanding, 2 million shares of preferred stock outstanding, and 20,000 bonds. Suppose the common shares are selling for $29 per share, the preferred shares are selling for $15.50 per share, and the bonds are selling for 98 percent of par.
What would be the weight used for equity in the computation of FarCry’s WACC? (Round your answer to 2 decimal places.) Weight used________%