Binomial Tree Farm's financing includes $6.6 million of bank loans. Its common equity is shown in Binomial's Annual Report at $6.83 million. It has 520,000 shares of common stock outstanding, which trade on the Wichita Stock Exchange at $16.40 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 ______ %