6. Problem 10.11 (WACC and Percentage of Debt Financing) Hook Industries's capital structure consists solely of debt and colmmon equity, It can issue debt at nd =11%, and its common stock currently prs a 52.75 dividend per share ( D0=$2.75 ). The stock's price is currently $21.50, its dividend is expected to grow at a constant rate of 7% per yeat, its tax rate is 25% and Its WACC is 12.75%. What percentage of the company's capital structure consists of debt? Do not round intermediate calculations. Round your answer to to decimal places. %