Hello can someone please show the solution for this question. I would appreciate it if solution is given line by line with formula. Thank you for the help.

Q: Jones and Jones has 85,000 shares of common stock outstanding at a price of $62 a share. They also have 10,000 shares of preferred stock outstanding at a price of $85 a share. The firm has 8 percent, 20-year bonds outstanding with a total face value of $10 million. The bonds are currently quoted at 101 percent of face value. The bonds pay interest semiannually. What is the capital structure weight of the firm's debt if the tax rate is 35 percent?