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Dominique Exports Inc. determines that sales will rise from $400,000 to $600,000 next year. Spontaneous assets are 60% of sales and spontaneous liabilities are 25%

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Dominique Exports Inc. determines that sales will rise from $400,000 to $600,000 next year. Spontaneous assets are 60% of sales and spontaneous liabilities are 25% of sales. The company has a 12% profit margin and a 30% dividend payout ratio. Calculate the level of Required New Funds. [Show detailed calculation with the formula to get proper credit]

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