Question: Gamgee Company wishes to maintain a growth rate of 13.6 percent per year, a debtequity ratio of 1.8, and a dividend payout ratio of 30

Gamgee Company wishes to maintain a growth rate of 13.6 percent

Gamgee Company wishes to maintain a growth rate of 13.6 percent per year, a debtequity ratio of 1.8, and a dividend payout ratio of 30 percent. The ratio of total assets to sales is constant at .98. What profit margin must the firm achieve? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

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