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Calculate the rate at which a firm can grow without changing its leverage if its payout ratio is 32%, equity outstanding at the beginning of

Calculate the rate at which a firm can grow without changing its leverage if its payout ratio is 32%, equity outstanding at the beginning of the year is $940,000, and its net income for the year is $162,000. Multiple Choice 14.00% 5.17% 16.67% 11.72%

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