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 $980,760 792,960 20,060 167740 14,740 Earnings before interest and taxes Interest paid Taxable income Taxes (21%) Net income $ 153,000 32,130 $ 120,870 Dividends Addition to retained earnings $39,250 81,620 Assets Current assets Cash Accounts receivable CROSBY, INC. Balance Sheet as of December 31, 2017 Liabilities and Owners' Equity Current liabilities $ 27,92 Accounts payable $ 71, 720 42,630 Notes payable 17,629 95,918 Total $ 89,348 $ 166,460 Long-term debt $ 170,000 Owners' equity Common stock and paid-in surplus $ 140,000 $ 455,989 Retained earnings 223,108 Inventory Total Fixed assets Net plant and equipment earnings 81,620 ed Assets Current assets Cash Accounts receivable CROSBY, INC. Balance Sheet as of December 31, 2017 Liabilities and Owners' Equity Current liabilities $ 27,920 Accounts payable $ 42,630 Notes payable Inventory 71,729 17,629 95,910 Total Total $ 166,460 $ 89,340 Long-term debt $ 170,000 Fixed assets Net plant and equipment Owners' equity Common stock and paid-in surplus Retained earnings $ 455,980 $ 140,000 223,100 Total Total assets $ 363, 100 $ 622,440 Total liabilities and owners' equity $ 622,440 What is the EFN if the firm wishes to keep its debt-equity ratio constant? (Do not round intermediate calculations.) EFN