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ATVI. Inc. is a gaming company based in Santa Monica, CA. You are hired as a financial consultant to forecast the additional external funding needed

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ATVI. Inc. is a gaming company based in Santa Monica, CA. You are hired as a financial consultant to forecast the additional external funding needed for ATVI to achieve its sales growth target for 2021. You applied the percent of sales approach and compiled the pro-forma income statement and balance sheet for 2021 as follo while keeping ATVI's external funding accounts (i.e. Notes Payable, Bonds Outstanding, and Common Stock) unchanged from their respective 2020 levels. Income Statement 2021 (Smil) Sales $ 17.250.00 Cost of goods sold 13,455.00 Operating Expenses $ 1,725.00 Depreciation $ 733.33 Interest expense $ 59.85 Earnings before taxes $ 1.276.82 Taxes (35%) $ 446.89 Earnings after taxes $ 829.93 Dividend $ 82.99 Balance Sheet Current Assets Net fixed assets Total Assets $ $ $ 2021 (Smil) 3,558.75 3.933.33 7,492.08 Accounts payable $ 538.20 Notes payable $ 1,500.00 Current Liabilities $ 2,038.20 Bonds outstanding $ 1,000.00 Total Liabilities $ 3,038.20 Common stock $ 1,500.00 Retained earnings $ 1.996.94 Total Equity $ 3.496.94 Total Liabilities and equity S 6.535.14 After extensive research, you conclude that the company should take advantage of the low interest rates due federal government's economic stimulus package by issuing new bonds to fund the additional external capita needed. With its AAA credit rating, ATVI can issue 30-year bonds at a yield of 3.3%. Assume the company adopts your suggestion, what is your estimated additional external capital needed

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