The most recent financial statements for Goose Tours, Inc., appear below. Sales for 2012 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. GOOSE TOURS, INC. 2011 Income Statement Sales $ 761,000 Costs 596,000 Other expenses 17,000 Earnings before interest and taxes $ 148,000 Interest expense 18,000 Taxable income $ 130,000 Taxes (40%) 52,000 Net income $ 78,000 Dividends $ 20,800 Addition to retained earnings 57,200 GOOSE TOURS, INC. Balance Sheet as of December 31, 2011 Assets Liabilities and Owners Equity Current assets Current liabilities Cash $ 22,040 Accounts payable $ 56,200 Accounts receivable 34,360 Notes payable 15,400 Inventory 71,320 Total $ 71,600 Total $ 127,720 Long-term debt $ 144,000 Fixed assets Owners equity Net plant and equipment $ 350,000 Common stock and paid-in surplus $ 130,000 Retained earnings 132,120 Total $ 262,120 Total assets $ 477,720 Total liabilities and owners equity $ 477,720 What is the EFN if the firm wishes to keep its debt-equity ratio constant?