The most recent financial statements for Live Co. are shown here:

Income Statement Balance Sheet Sales $3,800 Current assets $4,039 Debt $8,076 Costs 2,508

Fixed assets 9,889 Equity 5,852 Taxable income $1,292 Total $13,928

Total $13,928

Taxes (34%) 439 Net income $853

Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 28 percent dividend payout ratio. No external equity financing is possible.

Required: What is the internal growth rate? (Do not round your intermediate calculations.)

rev: 09_17_2012