P$10-2$ Modified $($see problem below for revisions$)$

Hint: See page $309$ for rate of growth formula

If Stanford Corporation's net income is $$90$ million, its common equity is $$750$ million, and management plans to retain $40$ percent of the firm's earnings to finance new investments, what will be the firm's growth rate?

$\backslash$table$[[$Net Income,$],[$Common Equity,$],[$ROE$,],[$Retention Rate $(r),],[$Growth Rate,$]]$

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