7. 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 11%, and its common stock currently pays a $2.75 dividend per share (Do $2.75). The stock's price is currently $30.25, its dividend is expected to grow at a constant rate of 7% per year, its tax rate is 25%, and its WACC is 14.40%. 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