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Question 29 3 pts Passmore Propane has 15,000 shares of common stock outstanding with a...

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Question 29 3 pts Passmore Propane has 15,000 shares of common stock outstanding with a current price of $33 per share. It has 8,000 shares of preferred stock outstanding that sells at $19 per share. Passmore also has bonds outstanding with a total face value of $300,000 that sell at 103 percent of par. What weight should be placed on the preferred stock when estimating Passmore's weighted average cost of capital (WACC)? Answer Format: Positive percentage rounded to 2 decimal places

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