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The most recent financial statements for Minnie's Manufacturing Co. are shown below: Income Statement Balance Sheet Sales 88,200 Current $ 29,500 Debt $39,000 assets 64,650

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The most recent financial statements for Minnie's Manufacturing Co. are shown below: Income Statement Balance Sheet Sales 88,200 Current $ 29,500 Debt $39,000 assets 64,650 Costs Fixed assets 91,700 Equity 82,200 Taxable income $23,550 Total $ 121,200 Total $121,200 Tax 4,946 Net Income 18,604 Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 30 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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