How much would the AFN for the coming year change if it increased a payout from 10% to the new and higher level?

Data for use in the forecast are shown below.

A CEO is concerned about the impact of a change in the payout ratio from the 10% that was used in the past to 45%, which the firm's investment bankers have recommended. All dollars are in millions.

Last year's sales = S0 $300.0

Last year's accounts payable $50.0

Sales growth rate = g 40%

Last year's notes payable $15.0

Last year's total assets = A0*$500

Last year's accruals$20.0

Last year's profit margin = PM 20.0%

Initial payout ratio 10.0%