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 $ $762,000$

Costs $618,000$

Other expenses $28,500$

Earnings before interest and taxes $ $115,500$

Interest expense $13,600$

Taxable income $ $101,900$

Taxes $(24\%)24,456$

Net income $ $77,444$

Dividends $ $26,940$

Addition to retained earnings $50,504$

CROSBY, INCORPORATED

Balance Sheet as of December $31,2021$

Assets Liabilities and Owners$$ Equity

Current assets Current liabilities

Cash $ $25,140$ Accounts payable $ $61,000$

Accounts receivable $34,550$ Notes payable $17,300$

Inventory $71,330$ Total $ $78,300$

Total $ $131,020$ Long$-$term debt $ $110,000$

Owners$$ equity

Fixed assets Common stock and paid$-$in surplus $ $109,000$

Net plant and equipment $ $219,000$ Retained earnings $52,720$

Total $ $161,720$

Total assets $ $350,020$ Total liabilities and owners$$ equity $ $350,020$

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$.,32.)$