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(Measuring growth) If Pepperdine, Inc.'s return on equity is 15 percent and the management plans to retain 61 percent of earnings for investment purposes, what will be the firm's growth rate? The firm's growth rate will be %. (Round to two decimal places.) (Measuring growth) Thomas, Inc.'s return on equity is 16 percent and management has plans to retain 21 percent of earnings for investment in the company. a. What will be the company's growth rate? b. How would the growth rate change if management (i) increased retained earnings to 33 percent or (i) decreased retention to 14 percent? a. The company's growth rate will be %. (Round to two decimal places.)