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Lopez Construction has a market to book value ratio of 3. Its stock price is $24 per share. Lopez Construction has 5 million shares outstanding.

Lopez Construction has a market to book value ratio of 3. Its stock price is $24 per share. Lopez Construction has 5 million shares outstanding. The firm's total capital is $120 million and it finances with only debt and equity. What is its debt-to-capital ratio? Enter your answer in percentage format without using the % sign. For example, if your answer is .25, enter your answer as 25 with no % sign. To be marked correct, the answer provided needs to be +/- 0.1 from the actual answer.

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