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Hook Industries' capital structure consists solely of debt and common equity. It can issue debt at rd=11%, and its common stock currently pays a $2.07 dividend per share. The stock's price is currently $24.38, its dividend is expected to grow at a constant rate of 7% per year, its tax rate is 35%, and its WACC is 13.95%. What percentage of the company's capital structure consists of debt?
Note: your answer should be in the XX% format (rounded up to the nearest whole percentage point), with the XX part put into the answer box and the "%" put into the unit box.