The most recent financial statements for Retro Machine, Inc., follow. Sales for 2021 are projected to grow by 30 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.

RETRO MACHINE, INC. 2020 Income Statement
Sales				$	762,000
Costs					618,000
Other expenses					28,500
Earnings before interest and taxes				$	115,500
Interest paid					13,600
Taxable income				$	101,900
Taxes (24%)					24,456
Net income				$	77,444
Dividends	$	26,940
Addition to retained earnings		50,504

RETRO MACHINE, INC. Balance Sheet as of December 31, 2020
Assets				Liabilities and Owners Equity
Current assets				Current liabilities
Cash	$	25,140		Accounts payable	$	61,000
Accounts receivable		34,550		Notes payable		17,300
Inventory		71,330		Total	$	78,300
Total	$	131,020		Long-term debt	$	110,000
				Owners equity
Fixed assets				Common stock and paid-in surplus	$	109,000
Net plant and equipment	$	219,000		Retained earnings		52,720
				Total	$	161,720
Total assets	$	350,020		Total liabilities and owners equity	$	350,020

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 dollar amount, e.g., 32.)