The most recent financial statements for Shinoda Manufacturing Co. are shown below: Income Statement Balance Sheet Sales $ 64,500 Current assets $ 29,500 Debt $ 45,700 Costs 44,530 Fixed assets 82,400 Equity 66,200 Taxable income $ 19,970 Total $ 111,900 Total $ 111,900 Tax (30%) 5,991 Net Income $ 13,979 Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 46 percent dividend payout ratio. No external financing is possible. Required: What is the sustainable growth rate? (Do not include the percent sign (%). Round your answer to 2 decimal places (e.g., 32.16).) Sustainable growth rate %

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