Given the following information: assets = $900; accounts payable = $110; notes payable = $100; long-term debt = $150; equity = $540; sales = $450; costs = $400; tax rate = 34%; dividends = $16.50. Costs, assets, and accounts payable maintain a constant ratio to sales. How much external financing is needed if sales increase 15% and the dividend payout ratio is constant?

A) $ 81

B) $ 94

C) $100

D) $106

E) $122

choose an answer and explain why with formula