Carlsbad Corporation's sales are expected to increase from $$5$

million in $2021$ to $$6$ million in $2022,$ or by $20\%.$ Its assets

totaled $$2$ million at the end of $2021.$ Carlsbad is at full

capacity, so its assets must grow in proportion to projected sales.

At the end of $2021,$ current liabilities are $$1$ million, consisting

of $$250,000$ of accounts payable, $$500,000$ of notes payable, and

$$250,000$ of accrued liabilities. Its profit margin is forecasted to

be $6\%,$ and the forecasted retention ratio is $40\%.$ Use the AFN

equation to forecast the additional funds Carlsbad will need for

the coming year. Write out your answer completely. For example, $5$

million should be entered as $5,000,000.$ Round your answer to the

nearest dollar.$$