Kahn Inc. has a target capital structure of $45\%$ common equity and $55\%$ debt to fund its $$8$ billion in operating assets. Furthermore, Kahn Inc. has a WACC of $16\%,$ a before$-$tax cost of debt of $9\%,$ and a tax rate of $25\%.$ The company's retained earnings are adequate to provide the common equity portion of its capital budget. Its expected dividend next year $($D$1)$ is $$2,$ and the current stock price is $$30.$

What is the company's expected growth rate? Do not round intermediate calculations. Round your answer to two decimal places.

If the firm's net income is expected to be $$1\mathrm{.}1$ billion, what portion of its net income is the firm expected to pay out as dividends? Do not round intermediate calculations. Round your answer to two decimal places. Hint: Growth rate $=(1-$ Payout ratio$)$ x $($ROE$)$