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The most recent financial statements for Minnie's Manufacturing Co. are shown below: Income Statement Balance Sheet Sales $98,400 Current $38,000 Debt $ 49,200 assets Costs

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The most recent financial statements for Minnie's Manufacturing Co. are shown below: Income Statement Balance Sheet Sales $98,400 Current $38,000 Debt $ 49,200 assets Costs 69,750 96,800 Fixed assets Equity 85,600 Taxable income $28,650 Total $ 134,800 Total $134,800 Tax 6,590 Net Income $22,060 Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 35 percent dividend payout ratio. No external financing is possible. What is the internal growth rate? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Internal growth rate %

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