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Gamgee Company wishes to maintain a growth rate of 11.8 percent per year, a debt-equity ratio of 1.7, and a dividend payout ratio of 20

Gamgee Company wishes to maintain a growth rate of 11.8 percent per year, a debt-equity ratio of 1.7, and a dividend payout ratio of 20 percent. The ratio of total assets to sales is constant at .89. 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.)

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