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 shares 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 JackITs' WACC?

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