A firm is planning its operations for next year. Data for use in the forecast are shown below. Based on the EFN equation, what is the required amount?

Last years sales S₀ = $350

Sales growth rate g = 30%

Last years total assets A₀ = $500

Last years profit margin M = 5%

Last years accounts payable = $40

Last years notes payable to bank = $50

Last years accruals = $30

Target payout ratio = 60%

____

$102.80

$108.20

$113.90

$119.90