Clayton Industries is planning its operations for next year. Hassan Clayton, 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? Dollars are in millions. Do not round intermediate calculations. Last year's sales = So $430 Last yr's accounts payable $50 Sales growth rate = g 20% Last yr's notes payable $50 Last year's total assets = A0 $480 Last yr's accruals $35 Last year's prof margin = Target payout ratio 15% 60% PM a. $32.6 million Ob. $53.2 million Oc. $48.0 million d. $34.9 million e. $38.0 million