P4-6 Calculating Internal Growth [LO3] The most recent financial statements for Live Co. are shown here: Income Statement Sales $3,900 Balance Sheet $4,145 Debt $8,288 Current assets Fixed -assets Costs 2,574 10,149 Equity 6,006 $1,326 Total $14,294 Total $14,294 Taxable income Taxes (35%) Net income 464 $862 Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 32 percent dividend payout ratio. No external equity financing is possible. Required: What is the internal growth rate? (Do not round your intermediate calculations.)