Assuming the following ratios are constant,

Total asset turnover	=	2.00
Profit margin	=	8%
Equity multiplier	=	1.50
Pay-out ratio	=	60%

A. What is the sustainable growth rate? (4 marks)

B. What is the internal growth rate? (4 marks)

C. What is the difference between the above two rates in terms of meaning, assumption and application? Discuss.

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