Owen$$s Electronics has nine operating plants in seven southwestern states. Sales for last year were $$100$ million, and the balance sheet at year$-$end is similar in percentage of sales to that of previous years $($and this will continue in the future$).$ All assets $($including fixed assets$)$ and current liabilities will vary directly with sales. The firm is working at full capacity.

Balance Sheet $($in $ millions$)$

Assets Liabilities and Stockholders' Equity

Cash $ $12$ Accounts payable $ $22$

Accounts receivable $27$ Accrued wages $9$

Inventory $28$ Accrued taxes $11$

Current assets $ $67$ Current liabilities $ $42$

Fixed assets $45$ Notes payable $16$

Common stock $19$

Retained earnings $35$

Total assets $ $112$ Total liabilities and stockholders' equity $ $112$

Owen$$s Electronics has an aftertax profit margin of $9$ percent and a dividend payout ratio of $40$ percent.

If sales grow by $30$ percent next year, determine how many dollars of new funds are needed to finance the growth.