Compute the weight of common equity that should be used in the firm's WACC calculation if the market value of the firm's debt is $60 million, the market value of the firm's preferred stock is $7 million and the market value of the firm's common equity is $111 million. Enter your answer as a decimal (i.e. 0.54)

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First we need to calculate the total market value of the firms ... View the full answer