#25 O McCann Catching, Inc. has 2.00 million shares of stock outstanding. The stock currently sells for $12.64 per share. The firm's debt is publicly traded and was recently quoted at 91.00% of face value. It has a total face value of $17.00 million, and it is currently priced to yield 9.00%. The risk free rate is 3.00% and the market risk premium is 8.00%. You've estimated that the firm has a beta of 1.29. The corporate tax rate is 38.00%. The firm is considering a $42.83 million expansion of their production facility. The project has the same risk as the firm overall and will earn $11.00 million per year for 8.00 years. What is the percentage of equity used by McCann Catching, Inc.? Submit Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924)) Show Hint