The total book value of equity of NextGen Corporation is $5 million and book value per share is $10. The stock currently sells for $17.80 per share. The firm's bonds have a par value of $2.35 million and currently sell at 126% of par. The yield to maturity on the bonds is 6.30% and the firm's tax rate is 41%. What proportion of the firm is financed with debt? a. 10.24% b. 24.96% c. 14.73% d. 28.21% e. 8.75%