Binomial Tree Farms financing includes $5.5 million of bank loans. Its common equity is shown in Binomials Annual Report at $6.72 million. It has 550,000 shares of common stock outstanding, which trade on the Wichita Stock Exchange at $17.50 per share. What debt ratio should Binomial use to calculate its WACC or asset beta?. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

Debt ratio= ? %