Draw two parallel lines across the 38-inch board that are 6 inches apart and each 1 inch away from the 38-inch edges. Draw a pair of lines that are perpendicular to the first two, spaced 30 inches apart and so they are each 4 inches away from the ends of the board.
Drill a 3/32-inch pilot hole through the board where the lines intersect and drill a 1/2-inch-deep, 1/2-inch-diameter hole in each of the pilot holes. Erase the remaining pencil marks.
Insert a dowel in each of the holes and screw through the pilot hole on the opposite side of the board and into the dowels. These dowels will hold your bows.
Sand the double bow rack using your medium-grade and fine-grade sandpaper. Wipe the bow rack clean using your tack cloth and apply your wood stain. Let the bow rack dry according to instructions.
Locate a stud in the wall and use your level to position your rack vertically against the wall over the stud. Drill two 3/32-inch pilot holes along the 4-inch center of the board so they're spaced 30 inches apart and between each pair of dowels. Screw the rack to the wall using your last two screws.
Hang your bows on the dowels by the handle so the string on the bow is beneath the dowels.