Question: I put 22% but it said it was wrong, how come? MV Corporation has debt with market value of $102 million, common equity with a

I put 22% but it said it was wrong, how come?

MV Corporation has debt with market value of $102 million, common equity with a book value of $104 million, and preferred stock worth $22 million outstanding. Its common equity trades at $55 per share, and the firm has 6.5 million shares outstanding. What weights should MV Corporation use in its WACC? The debt weight for the WACC calculation is 21.18 %. (Round to two decimal places.) The preferred stock weight for the WACC calculation is %. (Round to two decimal places.)

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