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Kahn Inc. has a target capital structure of $60\%$ common equity and $40\%$ debt to fund its $$11$ billion in operating assets. Furthermore, Kahn Inc. has a WACC of $15\%$ a before$-$tax cost of debt of $10\%$ and a tax rate of $25\%.$ The company's retained earnings are adequate to provide the common equity portion of its capital budget. Its expected dividend next year $($D$1)$ is $$3,$ and the current stock price is $$31.$

a$.$ What is the company's expected growth rate?

Do not round intermediate calculations. Round your answer to two decimal places.

b$.$ If the firm's net income is expected to be $$1\mathrm{.}8$ billion, what portion of its net income is the firm expected to pay out as dividends? Do not round intermediate calculations. Round your answer to two decimal places:

Growth rate $=(1-$payout ratio$)$ ROE

:$-$