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Explain the key determinants of external financing needed (EFN), and make excess capacity adjustments to both the EFN equation and projected financial statement methods. If

  1. Explain the key determinants of external financing needed (EFN), and make excess capacity adjustments to both the EFN equation and projected financial statement methods. If the company is operating at less than full capacity and if at full capacity, how will this affect the EFN?

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