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Logan's Lighting has a net income of $360 and total equity of $3,000. The debt-equity ratio is 1.2, and the plowback ratio is 50%. What is the internal growth rate?

Logan's Lighting has a net income of $360 and total equity of $3,000. The debt-equity ratio is 1.2, and the plowback ratio is 50%. What is the internal growth rate?

Intermediate Financial Management (MindTap Course List)
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter7: Analysis Of Financial Statements
Section: Chapter Questions
Problem 6P
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Logan's Lighting has a net income of $360 and total equity of $3,000. The debt-equity ratio is 1.2, and the plowback ratio is 50%. What is the internal growth rate?
Transcribed Image Text:Logan's Lighting has a net income of $360 and total equity of $3,000. The debt-equity ratio is 1.2, and the plowback ratio is 50%. What is the internal growth rate?
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