For the next fiscal year, you forecast net income of $$48,900$ and ending assets of

$$505,600.$ Your firm's payout ratio is $10\mathrm{.}2\%.$ Your beginning stockholders' equity is

$$298,900$ and your beginning total liabilities are $$120,700.$ Your non$-$debt liabilities

such as accounts payable are forecasted to increase by $$9,800.$ What is your net

new financing needed for next year?

The Tax Cuts and Jobs Act of $2017$ temporarily allowed $100\%$ bonus

depreciation $($effectively expensing capital expenditures$).$ However, we will still

include depreciation forecasting in this chapter and in these problems.

The net financing required will be $$,.($Round to the nearest dollar.$)$