6. Problem 10.11 (WACC and Percentage of Debt Financing) eBook Hook Industries's capital structure consists solety of debt and common equity. It can issue debt at ro - 11%, and its common stock currently pays a $3.75 dividend per share (D = $3.75). The stock's price is currently $20.00, its dividend is expected to grow at a constant rate of 5% per year, its tax rate is 25%, and its WACC is 15.60%. What percentage of the company's capital structure consists of debt? Do not round intermediate calculations. Round your answer to two decimal places. Grade It Now Save & Continue Continue without saving Numbers 22