The most recent financial statements for Crosby, Inc., follow. Sales for 2018 are projected to grow by 30 percent. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales. CROSBY, INC. 2017 Income Statement Sales Costs Other expenses $762,000 618,000 28,500 Earnings before interest and taxes Interest paid $ 115,500 13,600 Taxable income Taxes (24%) $ 101,900 24,456 Net income $ 77,444 $26,940 Dividends Addition to retained earnings 50,504 CROSBY, INC. Balance Sheet as of December 31, 2017 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 25,140 Accounts payable $ 61,000 Accounts receivable 34,550 Notes payable 17,300 Inventory 71,330 Total $ 78,300 Total $ 131,020 Long-term debt $ 110,000 Fixed assets Owners' equity Common stock and paid-in surplus Retained earnings $ 109,000 Net plant and equipment $ 219,000 52,720 Total $ 161,720 Total assets $350,020 Total liabilities and owners' equity $350,020 What is the EFN if the firm wishes to keep its debt-equity ratio constant? (Do not round intermediate calculations and round your answer to the nearest whole dollar amount, e.g., 32.) EFN