Intro NiteLate Inc. had revenue of $128,000 last year, costs of $76,800 and depreciation of $19,200. The company paid 2.9% interest on its debt, and its average tax rate is 0.25. NiteLate paid out $12,800 in dividends, and wants to maintain the same dividend payout ratio in the future. At the beginning of the year, the company had a book value of debt of $41,000 and a book value of equity of $52,000. Over the course of the year, no debt or equity was newly issued or retired. | Attempt 10 pts. Part 1 What was net income last year (in $)? 23108.25 Correct Net income = (Sales - Costs - Depreciation - Interest) (1-t) = (128,000 - 76,800 - 19,200 - (41,000 * 0.029) (1-0.25) = 23,108 = |Attempt 1/10 for 10 pts. Part 2 What is the sustainable growth rate? 19.823% Correct Dividend payout ratio: Dividends d Net income 12,800 23,108 0.5539 Part 3 Attempt 3/10 for 10 pts. How much does the company have to newly borrow to keep a constant debt/equity ratio (in $)? 0+ decimals Previous answers: 7600.435; 7600 Submit Part 4 8 Attempt 2/10 for 10 pts. What rate of growth is sustainable without any additional borrowing (internal growth rate)? A+ decimals Previous answers: 11.7345% Submit