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.

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.)

CROSBY, INC. 2017 Income Statement Sales Costs Other expenses $757,000 613,000 26,000 Earnings before interest and taxes Interest paid $ 118,000 11,600 Taxable income Taxes (24%) $106,400 25,536 Net income $ 80,864 Dividends Addition to retained earnings $30,440 50,424 CROSBY, INC. Balance Sheet as of December 31, 2017 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 24,640 Accounts payable $ 59,000 Accounts receivable 34,000Notes payable 15,800 Inventory 70,880 Total $ 74,800 Total $ 129,520 Long-term debt $ 105,000 Fixed assets Owners' equity Common stock and paid-in $104.000 surplus Retained earnings Net plant and equipment $ 214,000 59,720 Total $ 163,720 Total assets $343.520 Total liabilities and owners' equity $343,520