Hook Industries's capital structure consists solely of debt and common equity. It can issue debt at rd=10%, and its common stock currently pays a $2.25 dividend per share ( D0= $2.25). The stock's price is currently $23.75, its dividend is expected to grow at a constant rate of 6% per year, its tax rate is 25%, and its WACC is 12.20%. What percentage of the company's capital structure consists of debt? Do not round intermediate calculations. Round your answer to two decimal places. %