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Suppose that assets and costs maintain a constant ratio to sales. The maintain a constant percentage of sales. The firm retains 3 0 % of

Suppose that assets and costs maintain a constant ratio to sales. The maintain a constant percentage of sales. The firm retains

30 %

of earnings. If the firm is producing at full what is the maximum growth rate, assuming no equity sales, that will maintain a constant debt

-

equity ratio?

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