$11.$ A company wants to expand for the next few years without raising any external financing. It would like to grow the assets on its balance sheet by $9\%$ each year $($therefore it looking to maintain an $$internal growth rate$$ of $\mathrm{.}09).$ The company$$s management believes that it can maintain a profit margin of $\mathrm{.}28$ and a total asset turnover of $\mathrm{.}38.$ Given these projections, what percentage of net income would have to be reinvested each year $($i$.$e$.,$ what retention ratio would be needed$)$ in order for the company to meet its goal of $9\%$ expansion each year?

A$.11\mathrm{.}2\%($or $\mathrm{.}112)$

B$.28\mathrm{.}9\%($or $\mathrm{.}289)$

C$.42\mathrm{.}5\%($or $\mathrm{.}425)$

D$.77\mathrm{.}6\%($or $\mathrm{.}776)$

E$.84\mathrm{.}6\%($or $\mathrm{.}864)$