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Harvest Inc. has $ 2 0 million in equity and $ 2 5 million of debt at the beginning of the year. Itpays dividends of

Harvest Inc. has $

20

million in equity and $

25

million of debt at the beginning of the year. Itpays dividends of

20 %

of net income, and projects a net income of $

5

million. What is thefirm's sustainable growth rate?

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