The Sustainable Growth Rate of a fiRm Is Best Described

The sustainable growth rate of a firm is best described as the:

A) Minimum growth rate achievable if the firm does not pay out any cash dividends.
B) Minimum growth rate achievable if the firm maintains a constant equity multiplier.
C) Maximum growth rate achievable without external financing of any kind.
D) Maximum growth rate achievable without using any external equity financing, and while maintaining a constant debt-equity ratio.
E) Maximum growth rate achievable without any limits on the level of debt financing.