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Hook Industries's capital structure consists solely of debt and common equity, It can issue debt ot ri = 12%, and its common stock currentiy pays
Hook Industries's capital structure consists solely of debt and common equity, It can issue debt ot ri = 12%, and its common stock currentiy pays a 53.75 dividend per share (D) = \$3.75). The stock's price is currentiy $21.25, its dividend is expected to grow at a constant rate of 7\% per year, its tax rate is 25%, and its wacc is 13.45%. What percentage of the company's capital structure consists of debt? Do not roond intermediate calculations. Round your answer to two decimal places
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