WACC AND PERCENTAGE OF DEBT FINANCING Hook Industriess capital structure consists solely of debt and common equity. It can issue debt at rd = 11%, and its common stock currently pays a $3.00 dividend per share (Do $3.00). The stocks price is currently $31.50, its dividend is expected to grow at a constant rate of 8% per year, its tax rate is 40%, and its WACC is 15.35%. What percentage of the companys capital structure consists of debt? Do not round intermediate calculations. Round your answer to two decimal places
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