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QUESTION 1 Use the following assumptions and 2020 data to generate a forecast: The firm is operating at 80% capacity. Sales are expected to

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QUESTION 1 Use the following assumptions and 2020 data to generate a forecast: The firm is operating at 80% capacity. Sales are expected to increase by 10% COGS increase with sales. Other expenses will be 3% of sales. Interest expense will remain constant. Tax rate (30%) and dividend payout ratio (41%) remain constant. Total current assets and accounts payable increase with sales. Determine EFN (extemal financing needed)

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