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Thanks in advance!! Hook Industries's capital structure consists solely of debt and common equity. It can issue debt at rd = 12%, and its common

image text in transcribedThanks in advance!!

Hook Industries's capital structure consists solely of debt and common equity. It can issue debt at rd = 12%, and its common stock currently pays a $3.00 dividend per share (Do = $3.00). The stock's price is currently $20.00, its dividend is expected to grow at a constant rate of 9% per year, its tax rate is 25%, and its WACC is 13.10%. 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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