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 was operating at only 80 percent of capacity in 2017? Assume that fixed assets are sold so that the company has a 100 percent asset utilization.