Homework Answers
Given about Major Manuscripts, Inc's that they does not want to incur any additional external financing. In such cases, Maximum growth rate is calculated using formula
Growth rate = (ROA*RR)/(1 - ROA*RR)
Where ROA = return on assets
and RR = retention rate
For Major Manuscripts, Inc,
ROA = net income/total assets = 536/8430 = 6.36%
Retention rate = (Net income - dividend)/net income = (536 - 241)/536 = 55.04%
So, Growth rate = (0.0636*0.5504)/(1 - 0.0636*0.5504) = 3.63%
So, Maximum growth rate of the firm is 3.63%
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