Assume the following facts about a firm: Sales(this year) were $200,000, Net income(this year) was $30,000. The assets(this year) were $100,000, current liabilities(this year) were $10,000. The anticipated growth rate is 10% and the proposed dividend payout ratio is 40%. The firm's external funding requirement for next year is? (Hint: You don't have to remember the EFR formula. Just realize that the funding requirement is the growth in assets less that in current liabilities less next year's retained earnings. A negative result means surplus funds are available.) Select one:

a. $28,800

b. $10,800

c. ($28,800)

d. ($10,800)