For the next fiscal year, you forecast net income of

$49,300

and ending assets of

$503,700.

Your firm's payout ratio is

10.7%.

Your beginning stockholders' equity is

$297,000,

and your beginning total liabilities are

$122,100.

Your non-debt liabilities such as accounts payable are forecasted to increase by

$10,400.

Assume your beginning debt is

$102,100.

What amount of equity and what amount of debt would you need to issue to cover the net new financing in order to keep your debt-equity ratio constant?

The amount of debt to issue will be

$.

(Round to the nearest dollar.)

I calculate that the answer is 14247 but it is wrong