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

Income StatementBalance SheetSales$19,000Current assets$40,970Debt$40,379Costs11,400

Fixed assets28,669Equity29,260Taxable income$7,600Total$69,639

Total$69,639

Taxes (33%)2,508Net income$5,092

Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 34 percent dividend payout ratio. No external equity financing is possible.

Required:What is the sustainable growth rate?

a. 12.98 %

b. 5.07 %

c. 13.48 %

d. 12.48 %

e. 6.29 %