The most recent financial statements for Crosby, Inc., follow. Sales for 2018 are projected to grow by 30 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 $768,000 Costs 624,000 Other expenses 31,500 Earnings before interest $ 112,500 and taxes Interest paid 16,000 Taxable income $ 96,500 Taxes (25%) 24.125 Net income $ 72,375 Dividends Addition to retained earnings $22,740 49,635 CROSBY, INC. Balance Sheet as of December 31, 2017 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 25,740 Accounts payable $ 63,400 Accounts receivable 35,210 Notes payable 19,100 Inventory 71,870 Total $ 82,500 Total $ 116,000 $ 132,820 Long-term debt Owners' equity Common stock and paid-in surplus $225,000 Retained earnings Fixed assets $ 115,000 Net plant and equipment 44,320 Total $ 159,320 Total assets $ 357,820 Total liabilities and owners' equity $357,820 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