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 Costs Other expenses $764,000 620,000 29,500 Earnings before interest and taxes Interest paid $ 114,500 14,400 Taxable income Taxes (21%) $ 100,100 21,021 Net income $ 79,079 Dividends Addition to retained earnings $25,540 53,539 CROSBY, INC. Balance Sheet as of December 31, 2017 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 25,340 Accounts payable $ 61,800 Accounts receivable 34,770 Notes payable 17,900 Inventory 71,510 Total $ 79,700 Total $ 131,620 Long-term debt $ 112,000 Fixed assets Owners' equity Common stock and paid-in surplus Retained earnings $ 111,000 Net plant and equipment $ 221,000 49,920 Total $ 160,920 Total assets $352,620 Total liabilities and owners' equity $352,620 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