The most recent financial statements for Bello Co. are shown here:

Income Statement				Balance Sheet
Sales	$	19,500		Current assets	$	11,820		Debt	$	16,060
Costs		13,300		Fixed assets		28,800		Equity		24,560
Taxable income	$	6,200		Total	$	40,620		Total	$	40,620
Taxes (23%)		1,426
Net income	$	4,774

Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 45 percent dividend payout ratio.

What is the internal growth rate? (Do not round intermediate calculations and enter your answer as a percent rounded 2 decimal places, e.g., 32.16.)