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CUCLA W TUIN 21ean eBook Hook Industries's capital structure consists solely of debt and common equity. It can issue debt at rd = 9%, and

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CUCLA W TUIN 21ean eBook Hook Industries's capital structure consists solely of debt and common equity. It can issue debt at rd = 9%, and its common stock currently pays a $2.25 dividend per share (Do - $2.25). The stock's price is currently $22.75, its dividend is expected to grow at a constant rate of 8% per year, its tax rate is 25%, and its WACC is 12.15%. What percentage of the company's capital structure consists of debt? Do not round intermediate calculations, Round your answer to two decimal places

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