During $2021,$ Raines Umbrella corporation had salesof $$650,000.$ Cost of goods sold $,$ administrative and selling expenses, and depreciation expenses were $ $450,000,$ $$95,000$ and $ $150,000,$ respectively. In addition the company had an interest expense of $ $88,000$ and a tax rate of $21$ percent. $($ Ignore any tax loss carryforward provisions and assume that interest is fully deductible.$)$

suppose the company paid out $ $52,000$ in cash dividends. if spending on net fixed assets and networking capital was zero, and if no new stock was issued during the year, what was the new long term debt