Marcie's Mercantile wants to maintain its current dividend policy, which is a payout ratio of 35 percent. The firm does not want to increase its equity financing but is willing to maintain its current debt-equity ratio. Given these requirements, the maximum rate at which Marcie's can grow is equal to:

65 percent of the internal rate of growth.65 percent of the sustainable rate of growth.

the internal rate of growth.35 percent of the internal rate of growth.the sustainable rate of growth.