The most recent financial statements for Shinoda Manufacturing Co. are shown below: Income Statement Balance Sheet Sales $6 63,000 Current 22,000 $ Debt $38,200 assets 45,280 Costs Fixed assets 74,900 Equity 58,700 96,900 Taxable income $17,720 Total $ Total $96,900 Tax (35%) 6,202 Net Income $11,518 Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 31 percent dividend payout ratio. No external financing is possible. Required: What is the internal growth rate? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).) Internal growth rate 15.66