Equity Net Fixed Assets = $400,000 Long-term Liabilities = $140,000

Current Assets = $240,000 Current Liabilities = $100,000

Shareholder Equity = $400,000

Total Assets = $640,000 Total L&E = $640,000

The expected change in retained earnings next year is $40,000.

Assume that % sales growth requires an equivalent % percent growth in net fixed assets. If sales are expected to grow by 20%, how much external financing will be needed to fully capture this sales growth? (in $)