Problem:
Frifeldt Farm just paid a dividend of $1,026, has a total equity of $21,650, total assets of $31,450, and a net income of $3,420.
Required:
Question: What is the sustainable growth rate?
A. 12.43%
B. 22.49%
C. 28.04%
D. 29.66%
E. 32.74%
Note: Please show how to work it out.