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Dante Co. wishes to maintain a growth rate of 12.4 percent a year, a debt-equity ratio of 1.2, and a dividend payout ratio of 28 percent. The ratio of total assets to sales isnstant at.92. What profit margin must the firm achieve? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Profit margin References Book & Resources Worksheet Learning Objective: 04-03 The determinants of a firms growth Difficulty: Intermediate Section: 4.4 External Financing and Growth