(Financial forecasting) Sambonoza Enterprises projects its sales next year to be $7 million and expects to earn 4 percent of that amount after taxes. The firm is currently in the process of projecting its financing needs and has made the following assumptions (projections):

1. Current assets will equal 19 percent of sales, and fixed assets will remain at their current level of $1 million.

2. Common equity is currently $.70 million, and the firm pays out half of its after-tax earnings in dividends.

3. The firm has short-term payables and trade credit that normally equal 10 percent of sales, and it has no long-term debt outstanding.

What are Sambonoza's financing needs for the coming year? Sambonoza's financing needs for the coming year are $ __ million.(Round to two decimal places.)