WACC AND PERCENTAGE OF DEBT FINANCING 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 $3.50 dividend per share Do $3.50 The stock's price is currently $23.75, its dividend is expected to grow, at a constant rate of 4% per year its tax ra 6 and ts M C s Z1 . t percentage of the company's capital structure consists of debt? Do not round intermediate calculations. Round your answer to two decimal places