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The most recent financial statements for Hailey Co. are shown here: Income Statement Balance Sheet Sales $ 62,400 Current assets $ 29,400 Long-term debt $

The most recent financial statements for Hailey Co. are shown here:

Income Statement Balance Sheet
Sales $ 62,400 Current assets $ 29,400 Long-term debt $ 63,800
Costs 25,200 Fixed assets 124,000 Equity 89,600
Taxable income $ 37,200 Total $ 153,400 Total $ 153,400
Taxes (23%) 8,556
Net income $ 28,644

Assets and costs are proportional to sales. The company maintains a constant 40 percent dividend payout ratio and a constant debt-equity ratio.

What is the maximum increase in sales that can be sustained assuming no new equity is issued? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

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