Hook Industries' capital structure consists solely of debt and common equity. Its current 10-year annual coupon bond (face value in terms of $1,000) trades at the price of $897.04 with 6% coupon rate. Its common stock currently pays a $2.75 dividend per share (DO = $2.75). The stock's price is currently $23.75; its dividend is expected to grow at a constant rate of 8% per year, its tax rate is 40%; and its WACC is 15.05%. What percentage of the company's capital structure consists of debt? Round your answer to two decimal places. (HINT: percentages of debt and common equity should add to 1. Wc + wd =1] a. 36.08% b. 35.08% c. 34.08% d. 33.08%