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Max Co., which is currently operating at full capacity has current assets of $150.000, net fixed assets of $250,000, current liabilities of $100.000, dividend of
Max Co., which is currently operating at full capacity has current assets of $150.000, net fixed assets of $250,000, current liabilities of $100.000, dividend of $5,400, interest expense of $80,000, depreciation is $60,000, variable cost of $30,000, fixed cost of $15,000, and the addition to retained earnings of $6,600. The tax rate is 21%, and the unit price is expected to increase by 5% next year. All assets, current liabilities, and costs vary directly with sales. How much additional equity financing is required for next year? (Do not round your intermediate calculations. Round the final answer, if necessary, to two decimal places and enter it in canvas without the dollar (\$) sign)
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