The percentage of common stock in Spencer's weighted average cost of capital is
The following data concerning
Spencer Transgenics' capital structure is available.
$ millions Book Values Market Values
Accounts Payable & Accruals $300
Short-term notes $150 $150
Long-term debt $450 $600
Preferred Stock $75 $150
Common Stock $600 $1500
Total $1575 $2400
A) 62.5%.
B) 66.7%.
C) 6.25%.
D) 38.1%.
Answer: A
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