== 16. Determine a venture's sustainable growth rate based on the following information: sales- $1,000,000; net income = $100,000; common equity at the beginning of the year $500,000, and retention rate- 50%. a. 10% b. 15% c. 20% d. 25% 17. Your firm recorded sales for the most recent year of $10 million generated from an asset base of $7 million, producing a $500,000 net income. Sales are projected to grow at 20%, causing spontaneous liabilities to increase by $200,000. In the most recent year, $200,000 was paid out as dividends, and the current payout ratio will continue in the upcoming years. What is your firm's AFN? a. $200,000 b. $600,000 c. $840,000 A. $960,000