Shinedown, Inc., wishes to maintain a growth rate of 11 percent per year and a debt-equity ratio of . Profit margin is 5.9 percent, and the ratio of...

Shinedown, Inc., wishes to maintain a growth rate of 11 percent per year and a debt-equity ratio of .2. Profit margin is 5.9 percent, and the ratio of total assets to sales is constant at 1.56.

What dividend payout ratio is necessary to achieve this growth rate under these constraints?