Hook Industries's capital structure consists solely of debt and common equity. It can issue debt at re =9%, and its common stock currently pavs a s4.00 dividend per share (D2=$4.00). The stock's price is currently $23.75, its dividend is expected to grow at a constant rate of 8% per year, its tax rate is 25%, and its wacC is 14.70\%. What percentage of the compony's capital structure consiats of debt? Do not round intermediate calculations. Round your answer to two decimal places