At year-end 2021, Wallace Landscaping's total assets, all of which are used in operations, were 52,14 million, and its accounts payable were $355,000,5ales, whidi in 2021 were $2.3 million, are expected to incresse by 30% in 2022. Total assets and accounts psyable are preportional to oales, and that relationship will be maintained. Wallace typically uses no current liabilities other than accounts poyable. Common stock omounted to 5630,000 in 2021 ; and retained eamings were $345,000. Wallace has arranged to sell $195,000 of new common stock in 2022 to meet some of its finanong needs. The remainder of its finaooing need will be met by issuing new longterm debt at the end of 2022. (Eecause the debt is added at the end of the year, there will be no additonel interest expense due to the new debt) fis net profit margin on sales is 3%, and 35% of earmings will be pulid out as dividendz. a. What was Wallace's tetal long-term debt in 2021? Do not round intermediste calculations, Enter your answer in dollars. For example, an answer of 22 millon should be entered as 2,000,000. Round your answer to the nearest dollox 5 entered as 2,000,000. Round yeur antwer to the neatest dollan 5 answer in dollars. For example, an anaser of 32 milloo should be entered as 2,000,000, Round voor answer to the nearest delar