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A firm has sales of $ 8 4 , 0 0 0 , net income of $ 1 6 , 8 0 0 , total

A firm has sales of $84,000, net income of $16,800, total assets of $420,000, and total debt of $168,000. Assets and costs are proportional to sales. Debt and equity are not. A dividend of $10,584 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $91,560. What is the amount of external financing needed?
Multiple Choice
$26,263
$56,112
$37,800
$19,488
$31,025

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