A firm has total assets of $262,000, long-term debt of $105,000, stockholders' equity of $111,000, and current liabilities of $46,000. The retention ratio is 60 percent and the profit margin is 6 percent. Assume all assets and current liabilities change spontaneously with sales and the firm is currently operating at full capacity. What is the external financing need if the current sales of $275,000 are projected to increase by 10 percent?