At year$-$end $2019,$ Wallace Landscaping$$s total assets were $$1\mathrm{.}71$ million, and its accounts payable were $$520,000.$ Sales, which in $2019$ were $$3\mathrm{.}3$ million, are expected to increase by $20\%$ in $2020.$ Total assets and accounts payable are proportional to sales, and that relationship will be maintained. Wallace typically uses no current liabilities other than accounts payable. Common stock amounted to $$495,000$ in $2019,$ and retained earnings were $$220,000.$ Wallace has arranged to sell $$75,000$ of new common stock in $2020$ to meet some of its financing needs. The remainder of its financing needs will be met by issuing new long$-$term debt at the end of $2020.($Because the debt is added at the end of the year, there will be no additional interest expense due to the new debt.$)$ Its net profit margin on sales is $3\%,$ and $45\%$ of earnings will be paid out as dividends. How much new long$-$term debt financing will be needed in $2020?($Hint: AFN $-$ New stock $=$ New long$-$term debt.$)$ Do not round intermediate calculations. Enter your answer in dollars. For example, an answer of $$2$ million should be entered as $2,000,000.$ Round your answer to the nearest dollar.