11. Problem 10.11 (WACC and Percentage of Debt Financing) eBook Hook Industries's capital structure consists solely of debt and common equity. It can issue debt at ra = 12%, and its common stock currently pays a $1.75 dividend per share (Do = $1.75). The stock's price is currently $25.00, its dividend is expected to grow at a constant rate of 8% per year, its tax rate is 25%, and its WACC is 13.00%. What percentage of the company's capital structure consists of debt? Do not round intermediate calculations. Round your answer to two decimal places. %