A firm has an asset turnover ratio of 2.0. Its plowback ratio is 40%, and it is all-equity-financed. What must its profit margin be if it wishes to finance 16% growth using only internally generated funds? (Do not round intermediate calculations. Enter your answer as a whole percent.)

A firm has an asset turnover ratio of 2.0. Its plowback ratio is 40%, and it is all-equity-financed. What must its profit margin be if it wishes to finance 16% growth using only internally generated funds? (Do not round intermediate calculations. Enter your answer as a whole percent.) Profit margin %