A firm must set its investment and dividend policies for the coming year. It has three independent projects from which to choose, These projects have

different levels of risk, and therefore different costs of capital. Their projected internal rates of return $($IRRs$)$ and costs of capital are as follows:

Its capital structure consists of $20\mathrm{.}9\%$ debt and the balance as common equity.

Determine the equity needed. Enter your result rounded to the nearest dollar, if applicable. Do not enter the $ symbol.