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The most recent financial statements for Minnie's Manufacturing Co. are shown below: Income Statement Balance Sheet Sales $ 96,000 Current assets $ 36,000 Debt $

The most recent financial statements for Minnie's Manufacturing Co. are shown below:
Income Statement Balance Sheet
Sales $ 96,000 Current assets $ 36,000 Debt $ 46,800
Costs 68,550 Fixed assets 95,600 Equity 84,800
Taxable income $ 27,450 Total $ 131,600 Total $ 131,600
Tax 6,588
Net Income $ 20,862

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.)

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