Jasmine Manufacturing wishes to maintain a sustainable growth rate of $9\mathrm{.}75$ percent a year, a debt$-$equity ratio of $.48,$ and a Jasmine Manufacturing wishes to maintain a sustainable growth

rate of $9\mathrm{.}75$ percent a year, a debt$-$equity ratio of $\mathrm{.}48,$ and a

dividend payout ratio of $28\mathrm{.}5$ percent. The ratio of total assets to

sales is constant at $1\mathrm{.}27.$ 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$.,32\mathrm{.}16.$

Answer is complete but not entirely correct.

dividend payout ratio of $28\mathrm{.}5$ percent. The ratio of total assets to sales is constant at $1\mathrm{.}27.$ 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$.,32\mathrm{.}16.$

Answer is complete but not entirely correct.

Profit margin

$11\mathrm{.}70$

$\%$