The most recent financial statements for Scott, Inc., appear below. Sales for 2020 are projected to grow by 20 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.

Sales $760,000

Costs 616,000

Other expenses 27,500

Earnings before interest and taxes $116,500

Interest expense 12,800

Taxable income $103,700 Taxes (22%) 22,814

Net income $80,886

Dividends$28,340

Addition to retained earnings 52,546

SCOTT, INC. Balance Sheet as of December 31, 2019
Assets				Liabilities and Owners Equity
Current assets				Current liabilities
Cash	$	24,940		Accounts payable	$	60,200
Accounts receivable		34,330		Notes payable		16,700
Inventory		71,150		Total	$	76,900
Total	$	130,420		Long-term debt	$	108,000
				Owners equity
Fixed assets				Common stock and paid-in surplus	$	107,000
Net plant and equipment	$	217,000		Retained earnings		55,520
				Total	$	162,520
Total assets	$	347,420		Total liabilities and owners equity	$	347,420

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.)