Dante Co. wishes to maintain a growth rate of 12 percent a year, a debtequity ratio of 1.8, and a dividend payout ratio of 15 percent. The ratio of total assets to sales is constant at .90.

What profit margin must the firm achieve? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Profit margin

%