An all-equity-financed firm plans to grow at an annual rate of at least 20%. Its return on equity is 32%. What is the maximum possible dividend payout rate the firm can maintain without resorting to additional equity issues?(Do not round intermediate calculations. Enter your answer as a percent rounded to 1 decimal place.)

What is the maximum dividend payout ratio? (%)

Plank's Plants had net income of $4,000 on sales of $80,000 last year. The firm paid a dividend of $600. Total assets were $200,000, of which $100,000 was financed by debt.

a.What is the firm's sustainable growth rate? (%)

b. If the firm grows at its sustainable growth rate, how much debt will be issued next year?

c. What would be the maximum possible growth rate if the firm did not issue any debt next year?(%)