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Hook Industries's capital structure consists solely of debt and common equity. It can issue debt at ra = 9%, and its common stock currently pays
Hook Industries's capital structure consists solely of debt and common equity. It can issue debt at ra = 9%, and its common stock currently pays a $3.00 dividend per share (Do $3.00). The stock's price is currently $34.75, its dividend is expected to grow at a constant rate of 4% per year, its tax rate is 25%, and its WACC is 12.05%. 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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