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Ramble On Co wishes to maintain a growth rate of 10 percent per year, a debt-equity ratio of 8, and a dividend payout ratio of

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Ramble On Co wishes to maintain a growth rate of 10 percent per year, a debt-equity ratio of 8, and a dividend payout ratio of 25 percent. The ratio of total assets to sales is constant at 80. 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 17.95%

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