The most recent financial statements for Schenkel Co. are shown here:

Income Statement				Balance Sheet
Sales	$	17,700		Current assets	$	11,000		Debt	$	15,500
Costs		13,800		Fixed assets		26,500		Equity		22,000
Taxable income	$	3,900		Total	$	37,500		Total	$	37,500
Taxes (40%)		1,560
Net income	$	2,340

Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 25 percent dividend payout ratio. No external financing is possible.

What is the internal growth rate? (Do not round intermediate calculations. Enter your answer as a percent rounded 2 decimal places, e.g., 32.16.)

Internal growth rate