(Solved): Tinsley, Incorporated, wishes to maintain a growth rate of 12 percent per year and a debt-equity rat ...

Tinsley, Incorporated, wishes to maintain a growth rate of 12 percent per year and a debt-equity ratio of .4 . The profit margin is 5.6 percent, and the ratio of total assets to sales is constant at 1.59 . What dividend payout ratio is necessary to achieve this growth rate under these constraints? (

negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer as a percent rounded to the nearest whole number, e.g., 32.) Payout ratio