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The mott recent financial stmements for KBC Company ace shown bolow. Assets and conts are
proporfonak to salos. The company maintains a constart 35 percunt diviseed payoct raso and a
constant dobt equily catio. What is the maximum growth rale in sales that can be sustained
assuming no now equity is istied? 12.24% 1115% 113 % 10 , 44%

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