The most recent financial statements for Crosby, Incorporated, follow. Sales for 2021 are projected to grow by 25 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 2020 Income Statement $ Sales 767,000 Costs 623,000 Other expenses 31,000 Earnings before interest and $ 113,000 taxes Interest paid Taxable income Taxes (24%) Net income 15,600 $ 97,400 23,376 $ 74,024 Dividends Addition to retained earnings $ 23,440 50,584 CROSBY, INCORPORATED Balance Sheet as of December 31, 2020 Liabilities and Owners' Equity Current assets Cash Accounts receivable Inventory Total Assets Current liabilities $ 25,640 Accounts payable 35,100 Notes payable 71,780 Total $ 132,520 Long-term debt Owners' equity $ 63,000 18,800 $ 81,800 $ 115,000 Fixed assets Common stock and paid-in surplus $ 114,000 Net plant and equipment $224,000 Retained earnings 45,720 Total $ 159,720 Total assets $356,520 Total liabilities and owners' equity $356,520 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.) EFN Answer is complete but not entirely correct. 8,125