eBook Hook Industries's capital structure consists solely of debt and common equity. It can issue debt at 8%, and its common stock currently pays a $2.75 dividend per share (Do $2.75). The stock's price is currently $33.50, its dividend is expected to grow at a constant rate of 6% 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