The most recent financial statements for Crosby, Inc., follow. Sales for 2018 are projected to grow by 25 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 $772,000 Costs 628,000 Other expenses 33,500 Earnings before interest $ 110,500 and taxes Interest paid 17,600 Taxable income Taxes (24%) $ 92,900 22,296 Net income $ 70,604 $ 19,940 Dividends Addition to retained earnings 50,664 CROSBY, INC. Balance Sheet as of December 31, 2017 Assets Liabilities and Owners' Equity Current rate Currant liabilitiar CROSBY, INC. Balance Sheet as of December 31, 2017 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 26,140 Accounts payable $ 65,000 Accounts receivable 35,650 Notes payable 20,300 Inventory 72,230 Total $ 85,300 Total $ 134,020 Long-term debt $ 120,000 Owners' equity Common stock and paid-in surplus Retained earnings Fixed assets Net plant and equipment $ 119,000 $229,000 38,720 Total $ 157,720 Total assets $363,020 Total liabilities and owners' equity $363,020 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.) Answer is complete but not entirely correct