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Can you help me figure this out? age Account eBook Berea Resources is planning a $65 million capital expenditure program for the coming year. Next

Can you help me figure this out?
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age Account eBook Berea Resources is planning a $65 million capital expenditure program for the coming year. Next year, Berea expects to report to the IRS earnings of $34 million after interest and taxes. The company presently has 24 million shares of common stock issued and outstanding. Dividend payments are expected to increase from the present level of $10 million to $12 million. The company expects its current asset needs to increase from a current level of $24 million to $29 million. Current liabilities, excluding short- term bank borrowings, are expected to increase from $15 milion to $19 million. Interest payments are $5 million next year, and long-term debt retirement obligations are $9 million next year. Depreciation next year is expected to be $14 million on the company's financial statements, but the company will report depreciation of $17 million for tax purposes. How much external financing is required by Berea for the coming year? Enter your answer in millions. For example, an answer of $1 million should be entered as 1, not 1,000,000. Round your answer to the nearest whole number. million

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