Question: If Pepperdine, Inc. ' s return on equity is 2 1 percent and the management plans to retain 6 1 percent of earnings for investment

If Pepperdine, Inc.'s return on equity is 21 percent and the management plans to retain 61 percent of earnings for investment purposes, what will be the firm's growth rate? The firm's growth rate will be %.(Round to two decimal places.)

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