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The most recent financial statements for Schenkel Co. are shown here: Income Statement Balance Sheet Sales $ 16,800 Current assets $ 12,400 Debt $ 16,900

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

Income Statement Balance Sheet
Sales $ 16,800 Current assets $ 12,400 Debt $ 16,900
Costs 10,600 Fixed assets 30,000 Equity 25,500
Taxable income $ 6,200 Total $ 42,400 Total $ 42,400
Taxes (40%) 2,480
Net income $ 3,720

Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 30 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.)

Sustainable growth rate

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