You are estimating your company's external financing needs for the next year. At the end of the year, you expect that owners' equity will be $80 million, total assets will amount to $170 million, and total liabilities will be $70 million.

Required:

How much will your firm need to borrow, or otherwise acquire, from outside sources during the year?

a. $20 million

b. $70 million

c. $150 million

d. $160 million

e. $180 million

f. None of the Above