For the next fiscal year, you forecast net income of $$49,600$ and ending assets of $$505,900.$ Your firm's payout ratio is

$9\mathrm{.}5\%.$ Your beginning stockholders' equity is $$296,800$ and your beginning total liabilities are $$119,500.$ Your non$-$debt

liabilities such as accounts payable are forecasted to increase by $$10,300.$ 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 $$,.($Round to the nearest dollar.$)$