Carter Paint Company has plants in four provinces. Sales last year were $100 million, and the balance sheet at year-end is similar in percent of sales to that of previous years (and this will continue in the future). All assets and current liabilities will vary directly with sales. Assume the firm is already using capital assets at full capacity. Balance Sheet (in $ millions) Assets Liabilities and Shareholders' Equity 28 Cash $5 Accounts payable $7 Accounts receivable 11 Accrued wages 6 5 Inventory 22 Accrued taxes Current assets 38 Current liabilities 18 Capital assets 38 Long-term debt 15 Common stock 20 23 Retained earnings $76 Total assets Total liabilities and shareholders' equity $76 The firm has an aftertax profit margin of 6 percent and a dividend payout ratio of 20 percent. a. If sales grow by 15 percent next year, determine how many dollars of new funds are needed to finance the expansion. (Do not round intermediate calculations. Enter the answer in millions. Round the final answer to 3 decimal places.) The firm needs $ million in external funds.