The most recent financial statements for Crosby, Incorporated, appear below. Sales for $2022$ are projected to grow by $25$ 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 $ $764,000$

Costs $620,000$

Other expenses $29,500$

Earnings before interest and taxes $ $114,500$

Interest expense $14,400$

Taxable income $ $100,100$

Taxes $(21\%)21,021$

Net income $ $79,079$

Dividends $ $25,540$

Addition to retained earnings $53,539$

CROSBY, INCORPORATED

Balance Sheet as of December $31,2021$

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 $ $112,000$

Owners$$ equity

Fixed assets Common stock and paid$-$in surplus $ $111,000$

Net plant and equipment $ $221,000$ Retained earnings $49,920$

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