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Fat Tire Automobile Company reported sales of $ 8 0 5 , 0 2 5 . 0 0 in 2 0 2 3 . The

Fat Tire Automobile Company reported sales of $805,025.00 in 2023. The company is not happy with this figure and decides to hire a marketing agency to create advertisements for $91,980.00. The marketing agency promises that sales will grow by 17.00% in 2024. Fat Tire expects cost of goods to remain at 30.00% of sales, and depreciation expense will remain at $25,000.00. Selling and administrative expense was $60,000 in 2023. The cost of the marketing agency will be added to this expense for 2024.
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What is the minimum growth rate in sales to make the marketing agency investment worthwhile?
Answer format: Percentage Round to: 2 decimal places (Example: 9.24%,% sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924))
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