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The most recent financial statements for Martin, Inc., are shown here: Income Statement Sales $ 28,000 Costs (16,800) Taxable income $ 11,200 Taxes (34%) (3,808)

The most recent financial statements for Martin, Inc., are shown here:

Income Statement
Sales $ 28,000
Costs (16,800)
Taxable income $ 11,200
Taxes (34%) (3,808)
Net income $ 7,392

Balance Sheet
Assets $ 114,800 Debt $ 45,000
Equity 69,800
Total $ 114,800 Total $114,800

Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,060 was paid, and Martin wishes to maintain a constant payout ratio. Next years sales are projected to be $33,880. What is the external financing needed? (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "$" sign in your response.)

EFN $

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