Save Submit Assignment for Grading Problem 10.11 (WACC and Percentage of Debt Financing) Question 7 of 10 Check My Work (2 remaining) eBook 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 $2.00 dividend per share (Do = $2.00). The stock's price is currently $23.25, its dividend is expected to grow at a constant rate of 5% per year, its tax rate is 25%, and its WACC is 12.35%. What percentage of the company's capital structure consists of debt? Do not round Intermediate calculations. Round your answer to two decimal places. %