Polaris Industries Produces a Wide Range of Outdoor Leisure Vehicles

Polaris Industries produces a wide range of outdoor leisure vehicles including all-terrain vehicles (ATV's) , motorcycles, and snowmobiles. Use the financial information in the table to calculate Polaris' maximum sustainable growth rate. Selected Ratios
Polaris Industries Inc.
As of December 31, Year 5
$$\begin{array} { | c | c | } \hline \text { ROE } & 38.76 \% \\\hline \text { ROA } & 18.63 \% \\\hline \begin{array} { c } \text { Net Profit } \\\text { Margin }\end{array} & 7.51 \% \\\hline \begin{array} { c } \text { Total Asset } \\\text { Turnover }\end{array} & 2.48 \\\hline \begin{array} { c } \text { Dividend } \\\text { Payout Rate }\end{array} & 20 \% \\\hline\end{array}$$

A) 8.1%
B) 17.5%
C) 22.9%
D) 44.9%
E) 63.3%