Hook Industries's Capital structure consists solely of debt and common equity. It can issue debt at rd = 12%, and its common stock currentiy pays a $4.00 dividend per share (D0=$4.00). The stock's price is currently $31.75, its dividend is expected to grow at a constant rater of 6% per year, its tax rate is 25%, and its WACC is 15.75%. What percentage of the company's capital structure consists of debe? Do not round intermediate calculations. Round your answer to two decimal places