Asking for percentage so that would be 9.1 says it is wrong

Customer:replied 1 year ago.

If the Hunter Corp. has an ROE of 13 and a payout ratio of 30 percent, what is its sustainable growth rate? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

THe answer I gave is 9.1% (which would be a realistic growth rate)

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If I take the 13 literally meaning that the company is growing at 13x per year (very unrealistic) then the answer becomes 9.1 (which as a rate means tat the company is growing at 9.1 times itself every year)

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The formula is ROE x (1 - dividend-payout ratio) ... and either the 13 is a percentage or not.

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Again, if the 13 is ta***** *****terally to mean the company is returning 13 times+ itself every year the answer becomes 9.1 (or expressed as a percentage) 900.1%