The most recent financial statements for Moose Tours, Inc., appear below. Sales for 2016 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. MOOSE TOURS, INC. 2015 Income Statement Sales Costs Other expenses $ 762,000 597,000 18,000 Earnings before interest and taxes Interest expense $147,000 12,000 Taxable income Taxes (30%) $ 135,000 40,500 Net income $ 94,500 Dividends Addition to retained earnings $ 32,400 62,100 Assets Current assets Cash Accounts receivable Inventory MOOSE TOURS, INC. Balance Sheet as of December 31, 2015 Liabilities and Owners' Equity Current liabilities $ 22,140 Accounts payable $ 56,300 34,460 Notes payable 15,500 71,420 Total $ 71,800 Total $ 128,020 Long-term debt $121,000 Fixed assets Net plant and equipment $ 260,000 Owners' equity Common stock and paid-in surplus $ 131,000 Retained earnings 64,220 Total $ 195,220 Total assets $388,020 Total liabilities and owners' equity $388,020 What is the EFN if the firm wishes to keep its debt-equity ratio constant? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) EFN