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The most recent financial statements for Mandy Company are shown below: Income Statement Sales Costs Taxable income $ 97,200 69,150 $ 28,050 Current assets

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The most recent financial statements for Mandy Company are shown below: Income Statement Sales Costs Taxable income $ 97,200 69,150 $ 28,050 Current assets Fixed assets Total Balance Sheet $ 37,000 96,200 $ 133,200 Debt Equity $ 48,000 85,200 Total $ 133,200 Tax (21%) 5,891 Net Income $ 22,159 Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 45 percent dividend payout ratio. No external equity financing is possible. What is the sustainable growth rate? Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16. Sustainable growth rate %

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