Calculate the sustainable growth rate were the firm maintains a fixed debt ratio but issues no equity. (Do not round intermediate calculations. Round your answer to the nearest whole percent.)

Here are the abbreviated financial statements for Planners Peanuts: INCOME STATEMENT, 2012 Sales $10,000 Cost 8,500 Net income $ 1,500 BALANCE SHEET, YEAR-END 2011 2012 2011 11,000 Assets $10,500 $ Debt $ 853 2012 $ 1,000 10,000 Equity 9,647 11,000 10,500 Total $10,500 $ Total 11,000 $ Assume payout ratio is 50%