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 $ $756,000$

Costs $612,000$

Other expenses $25,500$

Earnings before interest and taxes $ $118,500$

Interest expense $11,200$

Taxable income $ $107,300$

Taxes $(23\%)24,679$

Net income $ $82,621$

Dividends $ $31,140$

Addition to retained earnings $51,481$

CROSBY, INCORPORATED

Balance Sheet as of December $31,2021$

Assets Liabilities and Owners$$ Equity

Current assets Current liabilities

Cash $ $24,540$ Accounts payable $ $58,600$

Accounts receivable $33,890$ Notes payable $15,500$

Inventory $70,790$ Total $ $74,100$

Total $ $129,220$ Long$-$term debt $ $104,000$

Owners$$ equity

Fixed assets Common stock and paid$-$in surplus $ $103,000$

Net plant and equipment $ $213,000$ Retained earnings $61,120$

Total $ $164,120$

Total assets $ $342,220$ Total liabilities and owners$$ equity $ $342,220$

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$.,32.)$