The most recent financial statements for Mandy Company are shown here: Income Statement Sales Costs Taxable income Taxes (21%) Net income $ 20,300 13,900 Internal growth rate $6,400 1,344 $5,056 Current assets Fixed assets Total Balance Sheet $ 11,980 Debt 32,400 Equity % $ 44,380 Total $16,540 27,840 Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 45 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.) $ 44,380

The most recent fincial statements for Mandy Company are shown here: Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 45 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.)