Recipe help. What is the moisture content of white bread?

I’m making a strange new recipe that calls for cubing and oven-drying one loaf of white bread. I decided to skip that step by going with pre-made croutons but I’m a little stuck on equivalence.

If a loaf of bread weighs 16 oz. and a bag of croutons weighs 5 oz, should I use one bag or two?

Basically, do you think bread is ⅓ or ⅔ moisture content?