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ICC, Inc. (ICC) had sales of $300,000 on which it earned net income of $28,000. Its total debt is $66,000 and total equity is $70,000.

ICC, Inc. (ICC) had sales of $300,000 on which it earned net income of $28,000. Its total debt is $66,000 and total equity is $70,000. Last year, ICC paid dividends of $6,000. If the total debt ratio remains constant, what is the sustainable growth rate?

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