The most recent financial statements for LIVE Co. are shown here:

The most recent financial statements for LIVE Co. are shown here:

Income Statements 

Sales  $17, 500

Cost   $11, 800

Taxable Income   $ 5700

Taxes(40%)  2,280

Net Income $3,420

Balance Statement

Current assets $10,400

Fixed assets $28,750

Total $39,150

Debt $17,500

Equity $ 21,650

Total $39, 150

Assets and cost are proportional to sales. Debt and equity are not. The company maintains a constant 30 percent dividend payout ratio. No external equity financing is possible.

What is the internal growth rate? ( Do not round intermediate calculations and round your final answer to 2 decimal places.)