Sambonoza Enterprises projects its sales next year to be $4 million and expects to earn5 percent of that amount after taxes. The firm is currently in the process of projecting its financing needs and has made the following assumptions (projections):

1. Current assets will equal20 percent of sales, and fixed assets will remain at their current level of $1 million.

2. Common equity is currently $0.80 million, and the firm pays out half of its after-tax earnings in dividends.

3. The firm has short-term payables and trade credit that normally equal10 percent of sales, and it has no long-term debt outstanding.

What are Sambonoza's financing needs for the coming year?

- Sambonoza's financing needs for the coming year are $ _ _ _million.