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Fortress of Solitude Co. expects an earnings per share of $2.79 and reinvests 40% of its earnings. Management projects a rate of return of 13%

Fortress of Solitude Co. expects an earnings per share of $2.79 and reinvests 40% of its earnings. Management projects a rate of return of 13% on new projects and investors expect a 9% rate of return on the stock. What is the sustainable growth rate? Enter your answer as a percentage. Do not include the percentage sign in your answer.

Enter your response below rounded to 2 DECIMAL PLACES.

%

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