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				$	773,000
Costs					629,000
Other expenses					34,000
Earnings before interest and taxes				$	110,000
Interest expense					18,000
Taxable income				$	92,000
Taxes (25%)					23,000
Net income				$	69,000
Dividends	$	19,240
Addition to retained earnings		49,760

SCOTT, INC. Balance Sheet as of December 31, 2019
Assets				Liabilities and Owners Equity
Current assets				Current liabilities
Cash	$	26,240		Accounts payable	$	65,400
Accounts receivable		35,760		Notes payable		20,600
Inventory		72,320		Total	$	86,000
Total	$	134,320		Long-term debt	$	121,000
				Owners equity
Fixed assets				Common stock and paid-in surplus	$	120,000
Net plant and equipment	$	230,000		Retained earnings		37,320
				Total	$	157,320
Total assets	$	364,320		Total liabilities and owners equity	$	364,320

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.)