Emerson Equine Supplies earned $72,000 in 2012 and paid dividends of $44,640. The firm had equity of

Question:

Emerson Equine Supplies earned $72,000 in 2012 and paid dividends of $44,640. The firm had equity of $150,000 at the beginning of the year. At the end of the year, the company had total assets of $195,000. During the year, the company sold no new equity. What is the sustainable growth rate?
15.32 percent
15.79 percent
17.78 percent
18.01 percent
18.24 percent.