The most recent financial statements for Scott, Inc., appear below. Sales for 2020 are projected to grow by 30 percent. Interest expense will remain constant; the tax rate and the dividend payout rate also will remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales.

SCOTT, INC. 2019 Income Statement
Sales				$	759,000
Costs					615,000
Other expenses					27,000
Earnings before interest and taxes				$	117,000
Interest expense					12,400
Taxable income				$	104,600
Taxes (21%)					21,966
Net income				$	82,634
Dividends	$	29,040
Addition to retained earnings		53,594

SCOTT, INC. Balance Sheet as of December 31, 2019
Assets				Liabilities and Owners Equity
Current assets				Current liabilities
Cash	$	24,840		Accounts payable	$	59,800
Accounts receivable		34,220		Notes payable		16,400
Inventory		71,060		Total	$	76,200
Total	$	130,120		Long-term debt	$	107,000
				Owners equity
Fixed assets				Common stock and paid-in surplus	$	106,000
Net plant and equipment	$	216,000		Retained earnings		56,920
				Total	$	162,920
Total assets	$	346,120		Total liabilities and owners equity	$	346,120

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.)

EPN: