4. 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 rd = 10%, and its common stock currently pays a $2.75 dividend per share (Do = $2.75). The stock's price is currently $25.50, its dividend is expected to grow at a constant rate of 6% per year, its tax rate is 40%, and its WACC is 13.90%. What percentage of the company's capital structure consists of debt? Do not round intermediate calculations. Round your answer to two decimal places. %