Owens Electronics has 9 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 $ 11 Accounts payable $ 23 Accounts receivable 28 Accrued wages 10 Inventory 29 Accrued taxes 13 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Current assets $ 68 Current liabilities $ 46 Fixed assets 46 Notes payable 18 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Common stock 20 Retained earnings 30 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Total assets $ 114 Total liabilities and stockholders' equity $ 114 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Owens has an aftertax profit margin of 10 percent and a dividend payout ratio of 50 percent. If sales grow by 30 percent next year, determine how many dollars of new funds are needed to finance the growth. (Do not round intermediate calculations. Enter your answer in dollars not in millions. Omit the "$" sign in your response.) New funds