The most recent financial statements for Crosby, Incorporated, follow. Sales for $2024$ are projected to grow by $20$ percent. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales.

CROSBY, INCORPORATED

$2023$ Income Statement

Sales $ $763,000$

Costs $619,000$

Other expenses $29,000$

Earnings before interest and taxes $ $115,000$

Interest paid $14,000$

Taxable income $ $101,000$

Taxes $(25\%)25,250$

Net income $ $75,750$

Dividends $ $26,240$

Addition to retained earnings $49,510$

CROSBY, INCORPORATED

Balance Sheet as of December $31,2023$

Assets Liabilities and Owners$$ Equity

Current assets Current liabilities

Cash $ $25,240$ Accounts payable $ $61,400$

Accounts receivable $34,660$ Notes payable $17,600$

Inventory $71,420$ Total $ $79,000$

Total $ $131,320$ Long$-$term debt $ $111,000$

Fixed assets Owners$$ equity

Net plant and equipment $ $220,000$ Common stock and paid$-$in surplus $ $110,000$

Accumulated retained earnings $51,320$

Total $ $161,320$

Total assets $ $351,320$ Total liabilities and owners$$ equity $ $351,320$

What is the EFN if the firm wishes to keep its debt$-$equity ratio constant?

Note: Do not round intermediate calculations and round your answer to the nearest whole dollar, e$.$g$.,32.$