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Problem 3-13 Internal Growth Rate (LG3-6) Last year, Lakesha's Lounge Furniture Corporation had an ROA of 7.2 percent and a dividend payout ratio of 27

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Problem 3-13 Internal Growth Rate (LG3-6) Last year, Lakesha's Lounge Furniture Corporation had an ROA of 7.2 percent and a dividend payout ratio of 27 percent. What is the internal growth rate? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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