$09$:$41$

$96$

Notes

$(9)$

Hook Industries's capital structure consists solely of debt and common equity. It can issue debt at rd $=8\%,$ and its common stock currently pays a $$2\mathrm{.}75$ dividend per share $(Do=$$$2\mathrm{.}75).$ The stock's price is currently $$21\mathrm{.}25,$ its dividend is expected to grow at a constant rate of $7\%$ per year, its tax rate is $25\%,$ and its WACC is $14\mathrm{.}05\%.$ What percentage of the company's capital structure consists of debt? Do not round intermediate calculations. Round your answer to two decimal places.

@$-$

$0$

$($A$)$