Appalachian Registers, Inc. $($ARI$)$ has current sales of $$50$ million. Sales are expected to grow to $$70$ million next year. ARI currently has accounts receivable of $$9$ million, inventories of $$12$ million, and net fixed assets of $$14$ million. These assets are expected to grow at the same rate sales over the next year. Accounts payable are expected to increase from their current level of $$14$ million to a new level of $$16$ million next year. ARI wants to increase its cash balance at the end of next year by $$3$ million over its current cash balances, which average $$4$ million. Earnings after taxes next year are forecasted to be $$10$ million. Next year, ARI plans to pay dividends of $$2$ million, up from $$500,000$ this year. ARI's marginal tax rate is $34$ percent.

How much external financing is required by ARI next year? Enter your answer in millions. For example, an answer of $$1\mathrm{.}2$ million should be entered as $1\mathrm{.}2,$ not $1,200,000.$ Round your answer to two decimal places.

$

million