(Answered) Internal growth rateleash n collar reported a profit margin

Finance

Internal Growth Rate

Leash N Collar reported a profit margin of 9%, total asset turnover ratio of 2.5 times, debt-to-equity ratio of 0.85 times, net income of $500,000, and dividends paid to common stockholders of $300,000. The firm has no preferred stock outstanding. What is Leash N Collar's internal growth rate? (Do not round intermediate steps.)

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