Suppose that the 2020 actual and 2021 projected financial statements for Comfy Corners Catbeds are initially as shown. In these tables, sales are projected to rise by 22 percent in the coming year, and the components of the income statement and balance sheet that are expected to increase at the same 22 percent rate as sales are costs except depreciation, depreciation, cash, accounts receivable, inventories, net plant and equipment, accounts payable, and accruals. Income Statement 2020 Actual Sales $4,000,000 Costs except depreciation 2,600,000 Depreciation 1,000,000 EBIT $ 400,000 Interest 198,000 EBT $ 202,000 Taxes (40%) 80,800 Net income $ 121,200 Common dividends $ 60,600 Addition to retained earnings $ 60,600 2021 Forecast $4,880,000 3,172,000 1,220,000 488,000 198,000 290,000 116,000 $ 174,000 $ 60,600 $ 113,400 Balance Sheet 2020 Actual 2021 Forecast $ 600, eee 137,000 1,013,000 $1,750,000 5,000,000 $6,750,000 $ 732,000 167, 140 1,235,860 $2,135,000 6,100,000 $8,235,000 Assets Cash Accounts receivable Inventories Total current assets Net plant and equipment Total assets Liabilities and Equity Accounts payable Notes payable Accruals Total current liabilities Long-term debt Total debt Common stock Retained earnings Total common equity Total liabilities and equity $ 179,000 980,000 375,000 $1,534,000 1,000,000 $2,534,000 $4,000,000 216,000 $4,216,000 $6,750,000 $ 218,380 980,000 457,500 $1,655,880 1,000,000 $2,655,880 $4,000,000 329,400 $4,329,400 $6,985,280 Assuming that Comfy Corners Catbeds wants to cover the AFN with half equity. 25 percent long-term debt, and the remainder from notes payable, what amount of additional funds will be needed if debt carries a 10 percent interest rate? (Round intermediate calculations and final answer to the nearest whole dollar amount.) Additional funds needed