ABC Tiles has 50,000 shares of common stock outstanding at a price of $37 a share. It also has 1000 shares of preferred stock outstanding at a price of $20 a share. There are 800 bonds outstanding that have a semiannual coupon payment of $25. The bonds mature in four years, have a face value of $1,000, and sell at 97 percent of par. What is the capital structure weight of the common stock?
69.28 percent
69.92 percent
68.15 percent
60.08 percent
62.91 percent