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An analyst following Manhattan Corp. wants to estimate the sustainable growth rate for the company by using the PRAT model. For this purpose, the analyst

An analyst following Manhattan Corp. wants to estimate the sustainable growth rate for the company by using the PRAT model. For this purpose, the analyst has compiled the data in the following table.

Assets and equity values are for the end of the year; the analyst uses averages of beginning and ending balance sheet values in computing ratios based on total assets and shareholders equity. For example average total assets for 2019 would be computed as (149,158 + 133,035)/2. Note: All numbers except for EPS and DPS are in $ millions.

Item 2019 2018 2017 2016
Net income 18,832 17,731 14,695 13,508
Sales 298,219 226,950 198,129 164,266
Total assets 149,158 133,035 127,745 99,968
Shareholders' equity 95,687 72,491 62,663 49,947
EPS 9.08 7.49 6.16 6.3
DPS 2.75 2.03 1.65 1.69

Your task is to compute the sustainable growth rate for 2019.

Write your answer in percentage form, and round your answer to 4 decimal places. For example, write 7.4615 instead of 0.0075.

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