In your internship with Lewis, Lee, & Taylor Inc. you have been asked to forecast the firm's additional funds needed (AFN) for next year. The firm is operating at full capacity. Data for use in your forecast are shown below. Based on the AFN equation, what is the AFN for the coming year? Last year's sales = So Sales growth rate = g Last year's total assets = A0* Last year's profit margin = PM Select the correct answer. a. - $19,080 b. - $19,000 c. - $19,040 d. - $18,920 e. - $18,960 $200,000 40% Last year's accounts payable Last year's notes payable $127,500 Last year's accruals 20.0% Target payout ratio $50,000 $15,000 $20,000 25.0% You have been asked to forecast the additional funds needed (AFN) for Houston, Hargrove, & Worthington (HHW), which is planning its operation for the coming year. The firm is operating at full capacity. Data for use in the forecast are shown below. However, the 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. Based on the AFN equation, by how much would the AFN for the coming year change if HHW increased the payout from 10% to the new and higher level? All dollars are in millions. Last year's sales = So $300.0 Last year's accounts payable Sales growth rate = g 40% Last year's notes payable Last year's total assets = A0* $500 Last year's accruals Last year's profit margin = PM 20.0% Initial payout ratio Select the correct answer. a. $29.4 b. $25.6 c. $27.5 d. $33.2 e. $23.7 $50.0 $15.0 $20.0 10.0%