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The most recent financial statements for Mandy Company are shown here: Income Statement Sales $ 16,400 Current assets Costs 11,200 Fixed assets Balance Sheet $

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The most recent financial statements for Mandy Company are shown here: Income Statement Sales $ 16,400 Current assets Costs 11,200 Fixed assets Balance Sheet $ 11,200 Debt 24,300 Equity $ 13,600 21,900 Taxable income $5,200 Total $ 35,500 Total $ 35,500 Taxes (21%) 1,092 Net income $ 4,108 Assets and costs are proportional to sales, Debt and equity are not. The company maintains a constant 30 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.) Internal growth rate %

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