The most recent financial statements for Crosby, Incorporated, appear below. Sales for $2022$ are projected to grow by $30$ percent. Interest expense will remain constant; the tax rate and the dividend payout rate also will remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales.

CROSBY, INCORPORATED

$2021$ Income Statement

Sales $ $773,000$

Costs $629,000$

Other expenses $34,000$

Earnings before interest and taxes $ $110,000$

Interest expense $18,000$

Taxable income $ $92,000$

Taxes $(25\%)23,000$

Net income $ $69,000$

Dividends $ $19,240$

Addition to retained earnings $49,760$

CROSBY, INCORPORATED

Balance Sheet as of December $31,2021$

Assets Liabilities and Owners$$ Equity

Current assets Current liabilities

Cash $ $26,240$ Accounts payable $ $65,400$

Accounts receivable $35,760$ Notes payable $20,600$

Inventory $72,320$ Total $ $86,000$

Total $ $134,320$ Long$-$term debt $ $121,000$

Owners$$ equity

Fixed assets Common stock and paid$-$in surplus $ $120,000$

Net plant and equipment $ $230,000$ Retained earnings $37,320$

Total $ $157,320$

Total assets $ $364,320$ Total liabilities and owners$$ equity $ $364,320$

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 number, e$.$g$.,32.)$