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Plank's Plants had net income of $ 2 , 0 0 0 on sales of $ 5 0 , 0 0 0 last year. The

Plank's Plants had net income of $2,000 on sales of $50,000 last year. The firm paid a dividend of $500. Total assets were $100,000, of which $40,000 was financed by debt.
a. What is the firm's sustainable growth rate?
Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 1 decimal place.
b. If the firm grows at its sustainable growth rate, how much debt will be issued next year?
Note: Do not round intermediate calculations.
c. What would be the maximum possible growth rate if the firm did not issue any debt next year?
Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 1 decimal place.
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