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Show me the steps to solve Hook Industries's capital structure consists solely of debt and common equity. It can issue debt at rd = 1

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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 $4.00 dividend per share (D0= $4.00). The stock's price is currently $20.75, its dividend is expected to grow at a constant rate of 5% per year, its tax rate is 25%, and its WACC is 14.05%. What percentage of the company's capital structure consists of debt? Do not round intermediate calculations. Round your answer to two decimal places.
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