Hook Industries's capital structure consists solely of debt and common equity. It can issue debt at 11%, and its common stock currently pays a $3.00 dividend per share (D. $3.00). The stock's price is currently $25.75, its dividend is expected to grow at a constant rate of 8% per year, its tax rate is 25, and its WACC is 14.50% What percentage of the company's capital structure consists of debt? Do not round intermediate calculations, Round your answer to two decimal places