Answer:
26.64%
Explanation:
Common stocks outstanding (C) = 80 million
Preffered stock outstanding (P) = 60 million
Number of bonds (B) = 50,000
Cost of common stock (Cc) = $20 per share
Cost of Preffered stock (Cp) = $10 per share
Cost of bond (Cb) = 105% of par
Weight of preferred stock :
(P * Cp) / [(P*Cp) + (C*Cc) + (B * Cb * par value)]
(60mill * $10) / [(60mill * $10) + (80mill * $20) + (50000 * 1.05 * 1000)]
600mill / (600 mill + 1600mill + 52.5mill)
600,000,000 / 2252500000
= 0.2663706
= 26.64%
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