market value

The following are extracts from the statement of financial position of a company: $'000 $'000 Equity Ordinary shares 8,000 Reserves 20,000 28,000 Non-current liabilities Bonds 4,000 Bank loans 6,200 Preference shares 2,000 12,200 Current liabilities Overdraft 1,000 Trade payables 1,500 2,500 42,700 The ordinary shares have a nominal value of 50 cents per share and are trading at $5.00 per share. The preference shares have a nominal value of $1.00 per share and are trading at 80 cents per share. The bonds have a nominal value of $100 and are trading at $105 per bond. What is the market value based gearing of the company, defined as prior charge capital/equity? why is prior year charge capital said in BPP kit that pref shares is 1.6m?