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The most recent financial statements for Bello, Inc., are shown here: Income Statement Balance Sheet Sales $ 41,400 Assets $ 154,000 Debt $ 46,500 Costs

The most recent financial statements for Bello, Inc., are shown here:

Income Statement Balance Sheet
Sales $ 41,400 Assets $ 154,000 Debt $ 46,500
Costs 27,900 Equity 107,500
Taxable income $ 13,500 Total $ 154,000 Total $ 154,000
Taxes (24%) 3,240
Net income $ 10,260

Assets and costs are proportional to sales; debt and equity are not. A dividend of $3,750 was paid, and the company wishes to maintain a constant payout ratio. Next years sales are projected to be $46,782.

What is the external financing needed? (Do not round intermediate calculations.)

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