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Abbreviated financial statements for Archimedes Levers are shown in the table below. Assume sales and expenses increase by 1 0 % in 2 0 2

Abbreviated financial statements for Archimedes Levers are shown in the table below. Assume sales and expenses increase by 10% in 2022 and all assets and liabilities increase correspondingly.
a. If the payout ratio is set at 65% and no external debt or equity is to be issued, what is the maximum possible growth rate for Archimedes?
b. If the payout ratio is set at 65% and the firm maintains a fixed debt ratio but issues no equity, what is the maximum possible growth rate for Archimedes?
Note: For all requirements, do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.
a. Maximum possible growth rate
b. Maximum possible growth rate
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