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A company's sales in 2020 were $8.2 million and its total spontaneous assets were $5.9 million. Also in the same year, the fun's spontane liabilities

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A company's sales in 2020 were $8.2 million and its total spontaneous assets were $5.9 million. Also in the same year, the fun's spontane liabilities consisted of $3.7 million in wages payable, $8.8 million in accounts payable, and $6.9 million in accrued expenses. The firm's profit margin is 1.1% and its dividend payout ratio is 8.1%. The balance sheet at year-end is similar in percentage of sales to that of previous years and this will continue in the future. Required: What is the percentage increase in sales that the company must achieve in order to avoid raising funds externally? Note: The term "K" is used to represent thousands (* $1,000). % (ROUND YOUR ANSWER TO 2 DECIMAL PLACES. FOR EXAMPLE: 17.23)

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