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The most recent financial statements for Reply, Inc., are shown here: Assets and costs are proportional to sales. Debt and equity are not. A dividend

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The most recent financial statements for Reply, Inc., are shown here: Assets and costs are proportional to sales. Debt and equity are not. A dividend of $2, 300 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $30, 935. What is the external financing needed? (Do not round intermediate calculations.)

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