ZYX Ltd. has sales of $1,000,000, retention ratio of 60%, equity multiplier of 2.5, dividends of $30,000, and equity of $312,500. What is the growth rate that the firm can achieve without outside financing?

a). 6.11%
b). 9.89%
c). 14.00%
d). 16.82%
e). There is insufficient information given for this calculation.