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Jasmine Manufacturing wishes to maintain a sustainable growth rate of 9 . 7 5 percent a year, a debt - equity ratio of 3 8

Jasmine Manufacturing wishes to maintain a sustainable growth rate of 9.75 percent a year, a debt-equity ratio of 38, and a dividend payout ratio of 33.5 percent. The ratio of total assets to sales is constant at 1.37. What profit margin must the firm achieve?
Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g.,32.16.
Profit margin
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