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A company reports the following for the prior year: $ 1 . 6 million in sales $ 1 million in total assets $ 1 6

A company reports the following for the prior year:
$1.6 million in sales
$1 million in total assets
$160,000 in net income
$800,000 in equity (at the beginning of this prior year)
$520,000 in current assets
$480,000 in fixed assets
$48,000 in accounts payable
$32,000 in accrued liabilities
The company projects that the sales will grow at 30%. Calculate the AFN for this company assuming 80% retention ratio.

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