Bill's Boards has 6.1 million shares of common stock outstanding, 5.1 million shares of preferred stock outstanding, and 31.00 thousand bonds. If the common shares are selling for $29.20 per share, the preferred share are selling for $18.10 per share, and the bonds are selling for 95.89 percent of par, what would be the weight used for equity in the computation of Bill's WACC?
A. 54.31 percent
B. 59.34 percent
C. 66.67 percent
D. 33.33 percent
Answer: B
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