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Fulkerson Manufacturing wishes to maintain a sustainable growth rate of 9 percent a year, a debt-equity ratio of .51, and a dividend payout ratio of

Fulkerson Manufacturing wishes to maintain a sustainable growth rate of 9 percent a year, a debt-equity ratio of .51, and a dividend payout ratio of 27 percent. The ratio of total assets to sales is constant at 1.24. Required: What profit margin must the firm achieve? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).)

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