The most recent financial statements for Crosby, Inc., follow. Sales for 2018 are projected to grow by 20 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 $760,000 616.000 27,500 Earnings before interest and taxes Interest paid $ 116,500 12,800 Taxable income Taxes (22%) $ 103,700 22.814 Net income $ 80,886 $28,340 Dividends Addition to retained earnings 52,546 CROSBY, INC. Balance Sheet as of December 31, 2017 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 24,940 Accounts payable $ 60,200 Accounts receivable 34,330 Notes payable 16,700 Inventory 71,150 Total $ 76,900 Total $130,420 Long-term debt $108,000 Fixed assets Owners' equity Common stock and paid-in surplus Retained earnings $ 107,000 Net plant and equipment $ 217,000 55,520 Total $162,520 Total assets $347,420 Total liabilities and owners' equity $347,420 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