1. Weighted Average Cost of Capital (WACC): A firm has 10,000 shares of common stock outstanding with a book value of $30 per share and a market value of $60. There are 10,000 shares of preferred stock with a book value of $30 and a market value of $50. There is a $500,000 face value bond issue outstanding that is selling at 102% of par. What weight should be placed on the preferred stock when computing the firm's WACC?