Please show your work.

WRONG answers (confirmed to be incorrect by the homework "check my answer" function): 35.50%, 17.22%

Problem 3-20 Calculating Internal Growth [LO 3] The most recent financial statements for Mandy Company are shown below: Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 40 percent dividend payo ratio. No external financing is possible. What is the Internal growth rate? Note: Do not round Intermedlate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16