Hook Industries's capital structure consists solely of debt and common equity. It can issue debt at $r_d=$

$10\%,$ and its common stock currently pays a $$3\mathrm{.}50$ dividend per share $(D_0=$$$3\mathrm{.}50).$ The stock's price

is currently $$33\mathrm{.}25,$ its dividend is expected to grow at a constant rate of $5\%$ per year, its tax rate is

$25\%,$ and its WACC is $14\mathrm{.}05\%.$ 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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