For the next fiscal year, you forecast net income of $49,400 and ending assets of $502,000. Your firm's payout ratio is 10.6%. Your beginning stockholders' equity is $299,500, and your beginning total liabilities are $127,300. Your non-debt liabilities such as accounts payable are forecasted to increase by $10,200. Assume your beginning debt is $107,300. 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