The most recent financial statements for Crosby, Incorporated, appear below. Sales for $2022$ are projected to grow by $20$ 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 $ $754,000$

Costs $610,000$

Other expenses $24,500$

Earnings before interest and taxes $ $119,500$

Interest expense $10,400$

Taxable income $ $109,100$

Taxes $(21\%)22,911$

Net income $ $86,189$

Dividends $ $32,540$

Addition to retained earnings $53,649$

CROSBY, INCORPORATED

Balance Sheet as of December $31,2021$

Assets Liabilities and Owners$$ Equity

Current assets Current liabilities

Cash $ $24,340$ Accounts payable $ $57,800$

Accounts receivable $33,670$ Notes payable $14,900$

Inventory $70,610$ Total $ $72,700$

Total $ $128,620$ Long$-$term debt $ $102,000$

Owners$$ equity

Fixed assets Common stock and paid$-$in surplus $ $101,000$

Net plant and equipment $ $211,000$ Retained earnings $63,920$

Total $ $164,920$

Total assets $ $339,620$ Total liabilities and owners$$ equity $ $339,620$

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$.,32.)$