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The most recent financial statements for Mandy Company are shown here: Income Statement Sales $ 19,700 Current assets Costs 13,440 Fixed assets Balance Sheet $

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The most recent financial statements for Mandy Company are shown here: Income Statement Sales $ 19,700 Current assets Costs 13,440 Fixed assets Balance Sheet $ 11,860 Debt 29,700 Equity $ 16,180 25,380 Taxable income $ 6,260 Total $ 41,560 Total $ 41,560 Taxes (25%) 1,565 Net income $4,695 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.) Intemal growth rate %

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