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The most recent financial statements for Mandy Company are shown below: Income Statement Balance Sheet Sales $ 97,800 Current assets $ 37,500 Debt $ 48,600

The most recent financial statements for Mandy Company are shown below:

Income Statement Balance Sheet
Sales $ 97,800 Current assets $ 37,500 Debt $ 48,600
Costs 69,450 Fixed assets 96,500 Equity 85,400
Taxable income $ 28,350 Total $ 134,000 Total $ 134,000
Tax (22%) 6,237
Net Income $ 22,113

Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 30 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.

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