Owens 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	$ 15	Accounts payable	$ 17
Accounts receivable	31	Accrued wages	3
Inventory	32	Accrued taxes	12
Current assets	$ 78	Current liabilities	$ 32
Fixed assets	46	Notes payable	15
		Common stock	18
		Retained earnings	59
Total assets	$ 124	Total liabilities and stockholders' equity	$ 124

Owens Electronics has an aftertax profit margin of 8 percent and a dividend payout ratio of 45 percent.

If sales grow by 20 percent next year, determine how many dollars of new funds are needed to finance the growth.

Note: Do not round intermediate calculations. Enter your answer in dollars, not millions, (e.g., $1,234,567).

new funds