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Gamgee Company wishes to maintain a growth rate of 10.4 percent per year, a debtequity ratio of 1.0 , and a dividend payout ratio of

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Gamgee Company wishes to maintain a growth rate of 10.4 percent per year, a debtequity ratio of 1.0 , and a dividend payout ratio of 15 percent. The ratio of total assets to sales is constant at 82 . 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.) Answer is complete but not entirely correct

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