Kahn Inc. has a target capital structure of 45% common equity and 55% debt to fund its $11 billion in operating assets.

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Kahn Inc. has a target capital structure of 45% common equity
and 55% debt to fund its $11 billion in operating assets.
Furthermore, Kahn Inc. has a WACC of 16%, a before-tax cost of debt
of 10%, and a tax rate of 25%. The company's retained earnings are
adequate to provide the common equity portion of its capital
budget. Its expected dividend next year (D1) is $4, and the current
stock price is $27.
What is the company's expected growth rate? Do not round
intermediate calculations. Round your answer to two decimal
places.
___%
If the firm's net income is expected to be $1.1 billion, what
portion of its net income is the firm expected to pay out as
dividends?
Do not round intermediate calculations. Round your answer to two
decimal places. (Hint: Refer to Equation below.) Growth rate = (1 -
Payout ratio)ROE