Attempts Keep the Highest / 10 7. Problem 10.11 (WACC and Percentage of Debt Financing) 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 $3.75 dividend per share (D0=$3.75). The stock's price is currently $23.00, its dividend is expected to grow at a constant rate of 6% per year, its tax rate is 25%, and its 12.35%. What percentage of the company's capital structure consists of debt? Do not round intermediate calculations. Round your answer to two decimal places. %