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(Financial forecastinglong dashpercent of sales) Tulley Appliances Inc. projects nextyear's sales to be $20.0020.00 million. Current sales are $1515 million, based on current assets of $5.005.00 million and fixed assets of $5.005.00 million. Thefirm's net profit margin is 55 percent after taxes. Tulley forecasts that its current assets will rise in direct proportion to the increase insales, but that its fixed assets will increase by only$100,000. Currently, Tulley has $1.501.50 million in accounts payable(which vary directly withsales), $22 million inlong-term debt(due in 10years), and common equity(including $44 million in retainedearnings) totaling $6.506.50 million. Tulley plans to pay $0.500.50 million in common stock dividends next year. a.What areTulley's total financing needs(that is, totalassets) for the comingyear? b.Given thefirm's projections and dividend paymentsplans, what are its discretionary financingneeds? c.Based on yourprojections, and assuming that the$100,000 expansion in fixed assets willoccur, what is the largest increase in sales the firm can support without having to resort to the use of discretionary sources offinancing?

a.What areTulley's total financing needs(taht is, totalassets) for the comingyear? $________________million(Round to two decimalplaces.)