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The most recent financial statements for Shinoda Manufacturing Co. are shown below Income Statement Balance Sheet Sales Costs $63,500 Current assets 5,030 Fixed assets Total

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The most recent financial statements for Shinoda Manufacturing Co. are shown below Income Statement Balance Sheet Sales Costs $63,500 Current assets 5,030 Fixed assets Total $ 24,500 Debt40,700 7.400 Equity 61200 $101,900 Total 101,900 Taxable income$ 18,470 7,388 $ 11,082 Tax (40%) Net Income Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 36 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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