Maggie's Muffins generated $$6,000,000$ in sales in $2020,$ and its year$-$end total assets were $$2,500,000.$ Also, at year end $2020,$ current liabilities were $$1,000,000,$ consisting of $$300,000$ of notes payable, $$500,000$ of accounts payable, and $$200,000$ of accruals. Looking ahead to $2021,$ the company estimates that its assets must increase at the same rate as sales, its spontaneous liabilities will increase at the same rate as sales, its profit margin will be $7\%,$ and its payout ratio will be $75\%.$ How large a sales increase can the company achieve without having to raise funds externally $-$ that is what is its self$-$supporting growth rate?

Self$-$Supporting Growth $=$

From the information above $($Question $3)$ determine the self supporting growth rate using the AFN equation.

Self$-$Supporting Growth $=$