The most recent financial statements for Mandy Company are shown here: Income Statement Sales Costs Taxable income Taxes (25%) Net income $ 19,100 Current assets 12,960 Fixed assets Internal growth rate $ 6,140 1,535 $4,605 Total Balance Sheet $11,740 Debt 27,000 Equity $38,740 % Total

Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 40 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.) $15,820 22,920 $38,740

The most recent financial statements for Mandy Company are shown here: Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 40 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.)