Problem $4-7$

Nobility Homes, Incorporated, is a small maker of manufactured homes sold throughout the state of Florida. The following are selected financial data for the company for the period $2012-2016.$

$\backslash$table$[[,2012,2013,2014,2015,2016],[$Profit margin $(\%),0\mathrm{.}5,6.,5\mathrm{.}5,9\mathrm{.}5,17\mathrm{.}5],[$Retention ratio $(\%),100\mathrm{.}0,100\mathrm{.}0,100\mathrm{.}0,100\mathrm{.}0,100\mathrm{.}0],[$Asset turnover $($X$),0\mathrm{.}45,0\mathrm{.}50,0\mathrm{.}55,0\mathrm{.}60,0\mathrm{.}65],[$Financial leverage $($X$),1\mathrm{.}10,1\mathrm{.}14,1\mathrm{.}17,1\mathrm{.}22,1\mathrm{.}30],[$Growth rate in sales $(\%),17\mathrm{.}5,17\mathrm{.}0,14\mathrm{.}5,31\mathrm{.}0,22\mathrm{.}5]]$

Source: Data from Nobility Homes $2012$ to $2016$ annual reports

a$.$ Calculate Nobility Homes' annual sustainable growth rate for the years $2012$ through $2016.$ Note: Round your answers to $1$ decimal place.

$\backslash$table$[[$Year$,$Sustainable Growth Rate$],[2012,,\%$