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#3: You have the most recent financial statements for Heckles & Co. Assets, Costs, and Current Liabilities are proportional to sales. Long-term Debt and Equity

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#3: You have the most recent financial statements for Heckles \& Co. Assets, Costs, and Current Liabilities are proportional to sales. Long-term Debt and Equity are not. The company maintains a constant 25 percent dividend payout ratio. Next year's sales are projected to increase by 22 percent. What is the External Financing Needed (EFN)

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