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 yr's sales = S0	$200,000		Last yr's accounts payable	$50,000
Sales growth rate = g	40%		Last yr's notes payable	$15,000
Last yr's total assets = A*	$145,000		Last year's accruals	$20,000
Last yr's profit margin = PM	20.0%		Target payout ratio	25.0%

A) -$9,000
B) -$13,560
C) -$12,000
D) -$13,800
E) -$14,760

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