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Major Manuscripts, Inc. 2009 Income Statement Net sales 7200 Cost of goods sold 6,665 Depreciation 190 Earnings before interest and 845 taxes Interest paid 22

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Major Manuscripts, Inc. 2009 Income Statement Net sales 7200 Cost of goods sold 6,665 Depreciation 190 Earnings before interest and 845 taxes Interest paid 22 Taxable income 822 Taxes 287 Net income 536 Dividends 241 Cash Accounts rec Inventory Total Net fixed assets Total assets Major Manuscripts, Inc. 2009 Balance Sheet 2009 2,200 Accounts payable 870 Long-term debt 2.300 Common stock 5,370 Retained earnings 3.060 8.430 Total liabilities & equity 2009 1,700 300 2,600 3.830 8.430 Major Manuscripts, Inc. does not want to incur any additional external financing. The dividend payout ratio is constant. What is the firm's maximum rate of growth

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