Gardial Green Lights, a manufacturer of energy-efficient lighting solutions, has had such success with its new products that it is planning to substantially expand its manufacturing capacity with a $9,720,000.00 investment in new machinery. Gardial plans to maintain its current 57.0% debt-to- total-assets ratio for its capital structure and to maintain its dividend policy in which at the end of each year it distributes 67.0% of the years net income. This years net income was $9,470,000.00. How much external equity must Gardial seek now to expand as planned?

		$707,630
		$519,392
		$264,500
		$625,510
		$1,054,500