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New Wall Street corporation has $2,088,000 in current assets, $2,448,000 in current liabilities, $5,112,000 in fixed assets, $1,600,000 in long-term debt and $3,152,000 in equity.

New Wall Street corporation has $2,088,000 in current assets, $2,448,000 in current liabilities, $5,112,000 in fixed assets, $1,600,000 in long-term debt and $3,152,000 in equity. The sales for the year that just ended were $7.2 million and the expected sales for next year are $9.2 million. The firm's profit margin is 30 percent; the retention ratio is 20 percent. The nature of the firm's fixed assets requires that any new fixed assets are added in increments of $1 million. Fixed assets are currently fully utilized and current assets and current liabilities are expected to grow with sales. What is the amount of AFN that New Wall Street corporation will need to fund the expected growth?

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