Problem $4-27($Algo$)$ Percent$-$of$-$sales method $[$LO$4-3]$

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.

Owen's Electronics has an aftertax profit margin of $8$ percent and a dividend payout ratio of $50$ percent.

If sales grow by $25$ 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).$