McCormac Co. wishes to maintain a growth rate of 10 percent a year, a debt-equity ratio of 0.39, and a dividend payout ratio of 50 percent. The ratio...

McCormac Co. wishes to maintain a growth rate of 10 percent a year, a debt-equity ratio of 0.39, and a dividend payout ratio of 50 percent. The ratio of total assets to sales is constant at 1.27.Required:What profit margin must the firm achieve? (Do not round your intermediate calculations.)

rev: 09_17_2012