Hook Industries's capital structure consists solely of debt and common equity. It can issue debt at ra =8%, and its common stock currently pays a 52.25 dividend per share (Ds=$2.25). The stock's price is currentiy $22.50, its dividend is expected to grow at a constant rate of 7\% per year, its tax rate is 25%, and its WaCC is 15.85 ? What percentage of the company's capital structure consists of debt? Do not round intermediate calculations. Round your answer to two decimal places