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McCormac Co. wishes to maintain a growth rate of 12 percent a year, a debt-equity ratio of 1.20, and a dividend payout ratio of 30 percent. The ratio of total assets to sales is constant at .75. The firm must therefore achieve a profit margin of _____ percent. (Do not include the percent sign (%). Round your answer to 2 decimal places. (e.g., 32.16))

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