Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 45 percent dividend payout ratio.

The most recent financial statements for Bello Co. are shown here: Income Statement Sales $20,100 Costs 13,800 Balance Sheet Current $ 11,940 Debt assets Fixed assets 31,500 Equity $16,420 27,020 Taxable income $ 6,300 Total $43,440 Total $43,440 Taxes (21%) 1,323 Net income $ 4,977 Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 45 percent dividend payout ratio. What is the internal growth rate? (Do not round intermediate calculations and enter your answer as a percent rounded 2 decimal places, e.g., 32.16.) Internal growth rate %