Problem $11-5$ Spreadsheet Problem: Weight of Equity $($LG$11-4)$

FarCry Industries, a maker of telecommunications equipment, has $2$ million shares of common stock outstanding, $1$ million shares of preferred stock outstanding, and $10,000$ bonds. Suppose the common shares are selling for $$29$ per share, the preferred shares are selling for $$15\mathrm{.}50$ per share, and the bonds are selling for $98$ percent of par.

What would be the weight used for equity in the computation of FarCry's WACC?

Note: Round your answer to $2$ decimal places.

Weight used