Fulkerson Manufacturing wishes to maintain a sustainable growth rate of 9.5 percent a year, a debt-equity ratio of .49, and a dividend payout ratio of 28 percent. The ratio of total assets to sales is constant at 1.26.
Required:
What profit margin must the firm achieve? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).)
Profit margin %