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The most recent financial statements for Minnie's Manufacturing Co. are shown below: Income Statement Balance Sheet Sales $ 89,400 Current assets $ 30,500 Debt $

The most recent financial statements for Minnie's Manufacturing Co. are shown below:
Income Statement Balance Sheet
Sales $ 89,400 Current assets $ 30,500 Debt $ 40,200
Costs 65,250 Fixed assets 92,300 Equity 82,600
Taxable income $ 24,150 Total $ 122,800 Total $ 122,800
Tax 5,555
Net Income $ 18,595

Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 40 percent dividend payout ratio. No external equity financing is possible.

What is the sustainable growth rate? (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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