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Reno is initiating planning for the company's operations next year, and he wants you to forecast the firm's additional funds needed (AFN). The firm is

Reno is initiating planning for the company's operations next year, and he wants you to forecast the firm's additional funds needed (AFN). The firm is operating at full capacity. Data for use in your forecast are shown below. Based on the AFN equation, what is the AFN for the coming year? Dollars are in millions. Last year's sales = $250 Sales growth rate = 28% Last year's total assets = $450 Last year's profit margin = 4% Last year's accounts payable = $30 Last year's notes payable = $40 Last year's accruals = $30 Target payout ratio = 50%

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