10 11. 12 OOOOOO Appalachian Registers, Inc. (ART) has current sales of $50 million Sales are expected to grow to $75 min next year. ARI currently has accounts receivable of O $11 million, Inventories of $12 million, and not fired assets of $17 million. These assets are expected to grow at the same rates sales over the next year. Accounts payable are expected to increase from their current level of $16 milion to a new level of $19 milion next year. ARI wants to increase its cash balance at the end of next year by $million over its current cash balances, which average 3 million Barrings after taxes next year are forecasted to be $10 million Next year, ART plans to pay dividends of $2 million, up from $500,000 this year, ARI' marginal tax rates 4 percent How much external financing is required by ART next year? Enter your answer in milions. For example, an answer of $1.2 million should be cured as 12, not 1,200,000. Round your answer to two decimal places. 11 15 mon