The most recent financial statements for Locke, Inc., are shown here: INCOME STATEMENT Sales $56,000 Costs 46,000 BALANCE SHEET Assets $122,100 Debt Equity $ 38,100 84,000 $ 10,000 Total $122,100 Total $122,100 Taxable income Taxes (21%) 2,100 Net income $ 7,900 Assets and costs are proportional to sales; debt and equity are not. A dividend of $3,300 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $66,080. What is the external financing needed? (Do not round intermediate calculations and enter your answer to the nearest whole number, e.g., 32.) External financing needed $ 16,620