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The most recent financial statements for Martin, Inc., are shown here: Income Statement Sales $ 30,000 Costs (18,000 ) Taxable income $ 12,000 Taxes(34%) (4,080

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

Income Statement
Sales $ 30,000
Costs (18,000 )
Taxable income $ 12,000
Taxes(34%) (4,080 )
Net income $ 7,920

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

Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,030 was paid, and Martin wishes to maintain a constant payout ratio. Next years sales are projected to be $36,900. What is the external financing needed? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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