bill's Boards has 20.3 million shares of common stock outstanding, 4.3 million shares of preferred stock outstanding, and 23,000 bonds. If the common shares are selling for $30.30 per share, the preferred shares are selling for $17.30 per share, and the bonds are selling for 95.97 percent of par, what would be the weight used for equity in the computation of Bill's WACC?
a. 82.44%
b. 66.67%
c. 3.33%
d. 86.44%