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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

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?

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Last year's sales = So $200,000 Last year's accounts $50,000 payable Sales growth rate = g 40% Last year's notes $15,000 payable Last year's total assets = $110,000 Last year's accruals $110,000 Ao* Last year's profit margin 20.0% Target payout ratio 25.0% = PM

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