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The most recent financial statements for Live Co. are shown here: Income Statement Balance Sheet Sales $14,000 Current assets $30,188 Debt $29,753 Costs 8,400 Fixed

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

Income Statement Balance Sheet
Sales $14,000 Current assets $30,188 Debt $29,753
Costs

8,400

Fixed assets 21,125 Equity 21,560
Taxable income $5,600 Total

$51,313

Total

$51,313

Taxes (34%) 1,904
Net income

$3,696

Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 32 percent dividend payout ratio. No external equity financing is possible.

Required:

What is the sustainable growth rate? (Do not round your intermediate calculations.)

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