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 the 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

Cash.....................................$4

Accounts receivable.......25

Inventory...............................24

Current assets..............$53

Fixed assets........................42

Total assets.......................$95

Liabilities and Stockholders' Equity

Accounts payable......................$19

Accrued wages.............................7

Accrued taxes...............................12

Current liabilities.......................$38

Notes payable...............................13

Common stock.............................18

Retained earnings......................26

Total liabilities & stockholders' equity.....$95

Owen's Electronics has an aftertax profit margin of 9 percent and a dividend payout ratio of 60 percent.

If sales grow by 20 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 millions, (e.g., $1,234,567).)