JackITs Has 5 Million Shares of Common Stock Outstanding, 1

Multiple Choice

JackITs has 5 million shares of common stock outstanding, 1 million shares of preferred stock outstanding, and 20 thousand bonds. If the common shares are selling for $28 per share, the preferred share are selling for $13.50 per share, and the bonds are selling for 98 percent of par, what would be the weight used for equity in the computation of JackIT's WACC?

A) 33.33%
B) 80.88%
C) 83.08%
D) 91.19%