WACC and Percentage of Debt Financing Hook Industries' capital structure consists solely of debt and common equity. It can issue debt at r_d = 8%, and its common stock currently pays a $2.00 dividend per share (D_o = $2.00). The stock's price is currently $24.00, its dividend Is expected to grow at a constant rate of 5% per year, its tax rate is 40%, and its WACC is 12.70%. What percentage of the company's capital structure consists of debt? Do not round intermediate calculations.