Problem $3-26$ Constraints on Growth

Tinsley, Incorporated, wishes to maintain a growth rate of $12$ percent per year and a debt$-$equity ratio of $\mathrm{.}6.$ The profit margin is $4\mathrm{.}9$ percent, and the ratio of total assets to sales is constant at $1\mathrm{.}66.$

What dividend payout ratio is necessary to achieve this growth rate under these constraints? $($A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

What is the maximum growth rate possible? $($Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$