During $2021,$ Ralnes Umbrella Corporation had sales of $$740,000.$ Cost of goods sold,

administrative and selling expenses, and depreclation expenses were $$540,000,$

$$85,000,$ and $$100,000,$ respectively. In addition, the company had an Interest expense

of $$54,000$ and a tax rate of $21$ percent. $($lgnore any tax loss carryforward provisions and

assume interest expense is fully deductible.$)$

Suppose the company pald out $$66,000$ In cash dividends. If net capital spending and

net working capltal were both zero, and If no new stock was issued during the year, what

Is the net new long$-$term debt? $($Do not round Intermedlate calculations.$)$

Net new long$-$term debt