Fulkerson Manufacturing wishes to maintain a sustainable growth rate of 8.75 percent a year, a debt-equity ratio of .52, and a dividend payout ratio of 26.5 percent. The ratio of total assets to sales is constant at 1.23.
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).)