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Futuristic Development (FO) generated $2 million in sales last year with assets equal to $5 million. The firm operated at hull capocaty last year. Mccording

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Futuristic Development (FO) generated $2 million in sales last year with assets equal to $5 million. The firm operated at hull capocaty last year. Mccording to fo's balance sheet, the only current liabilities are accounts payable, whuch equals $540,000. The only other fiatality is long term debt, which equals $1,125,000. The common equity section is comprised of 400,000 shares of common stock with a book value equal to $2 million and $1,395,000 of retained earnungs. Next year, fo expects its sales will increase by 22 percent. The company's net profit margin is expected to remain at its current level, which is 15 percent af sales. FD plans to pay dividends equal to $0.60 per share. It also plans to issue 70,000 shares of new common stock, which will raise $370,000, Estimate the additional funds rieeded (Arw) to achieve the forecasted sales noxt year. Round your aciswer to the nearest dollac

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