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Fulkerson Manufacturing wishes to maintain a sustainable growth rate of 10 percent a year, a debt–equity...


Fulkerson Manufacturing wishes to maintain a sustainable growth rate of 10 percent a year, a debt–equity ratio of .37, and a dividend payout ratio of 34 percent. The ratio of total assets to sales is constant at 1.38.
  
What profit margin must the firm achieve in order to meet its growth rate goal? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
  
Profit margin             %

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