Keep the Highest / 1 6. Problem 10.11 (WACC and Percentage of Debt Financing) eBook Hook Industries's capital structure consists solely of debt and common equity. It can issue debt at-8%, and its common stock currently pays a $3.50 dividend per share (D- $3.50). The stock's price is currently $27.50, its dividend is expected to grow at a constant rate of 7% per year, its tax rate is 25%, and its WACC IS 15.55% What percentage of the company's capital structure consists of debt? Do not round Intermediate calculations. Round your answer to two decimal places