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Question 1 2 pts Your business had total assets of $5.5M at the beginning of the year. Using these assets, you were able to sell
Question 1 2 pts Your business had total assets of $5.5M at the beginning of the year. Using these assets, you were able to sell 1.1M units at $23 each. After all costs, each unit generated a net profit of $0.7. You expect to sell 10.3% more units at a 14.8% higher price next year. You expect costs to rise at the same pace, so that the profit margin is unchanged. To finance your total assets you have total debt of $5M. Your policy is to retain 43% of your net income to reinvest in your business. What is your sustainable growth rate? Express your answer in MILLIONS and round your answer to THREE decimal places
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