Redo Problem 24 using sales growth ratesof 15 and 25 percent in addition to 20 percent. Illustrate graphically the relationshipbetween EFN and the growth rate, and use this graph to determine the relationshipbetween them. At what growth rate is the EFN equal to zero? Why is this internalgrowth rate different from that found by using the equation in the text?

Data From Problem 24:

The most recent financial statements for Fleury, Inc., follow. Sales for 2015 are projected to grow by 20 percent. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant. Cost other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales. If the firm is operating at full capacity and no new debt or equity is issued, what external financing is needed to support the 20 percent growth rate in sales?