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(Measuring growth) The Cammack Corporation wants to achieve a steady 8 percent growth rate. If it can achieve a return on equity of 12 percent,

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(Measuring growth) The Cammack Corporation wants to achieve a steady 8 percent growth rate. If it can achieve a return on equity of 12 percent, what percentage of earnings must Cammack retain for investment purposes? The percentage of earnings Cammack must retain (or the profit-retention rate) is%. (Round to two decimal places.)

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