CENGAGE MINDTAP Q Search this course Ch 10: Assignment - The Cost of Capital X Back to Assignment Attempts Keep the Highest/1 5. Problem 10.11 (WACC and Percentage of Debt Financing) A-Z Ofice eBook Hook Industries's capital structure consists solely of debt and common equity. It can issue debt at ra = 9%, and its common stock currently pays a $1.50 dividend per share (Do = $1.50). The stock's price is currently $23.25, its dividend is expected to grow at a constant rate of 9% per year, its tax rate is 35%, and its WACC is 12.20%. What percentage of the company's capital structure consists of debt? Do not round intermediate calculations. Round your answer to two decimal places. Grade it Now Save & Continue Continue without saving