Chua Chang & Wu Inc. is planning its operations for next year, and the CEO wants you to forecast the firm's additional funds needed $($AFN$).$ Data for use in your forecast are shown below. Based on the AFN equation, what is the AFN for the coming year?

Last year's sales $=$ S$0$

$$200,000$

Last year's accounts payable

$$50,000$

Sales growth rate $=$ g

$40\%$

Last year's notes payable

$$15,000$

Last year's total assets $=$ A$0*$

$$135,000$

Last year's accruals

$$20,000$

Last year's profit margin $=$ PM

$20\mathrm{.}0\%$

Target payout ratio

$25\mathrm{.}0\%$

Chua Chang & Wu Inc. is planning its operations for next year, and the CEO wants you to forecast the firm's additional funds needed $($AFN$).$ Data for use in your forecast are shown below. Based on the AFN equation, what is the AFN for the coming year?

Last year's sales $=$ S$0$

$$200,000$

Last year's accounts payable

$$50,000$

Sales growth rate $=$ g

$40\%$

Last year's notes payable

$$15,000$

Last year's total assets $=$ A$0*$

$$135,000$

Last year's accruals

$$20,000$

Last year's profit margin $=$ PM

$20\mathrm{.}0\%$

Target payout ratio

$25\mathrm{.}0\%$

$$$$14,440$

$$$$15,200$

$$$$16,000$

$$$$16,800$

$$$$17,640$