QUESTION $1$

This year, Acme Inc achieved a $11\mathrm{.}1\%$ profit margin on $$760,000$ of net income. Their asset turnover was $1\mathrm{.}8$ on $$3,800,000$ of total assets. The board of directors however is dissatisfied with last year's ROA of $0\mathrm{.}2$ and want management to increase ROA next year to $0\mathrm{.}21.$ They also specify that the net profit margin remain unchanged and total assets grow by $7\%.$ What is the target growth rate in net income needed to meet the board's goal?

$\backslash$table$[[12\mathrm{.}4\%$