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.

SCOTT, INC. 2019 Income Statement
Sales				$	754,000
Costs					610,000
Other expenses					24,500
Earnings before interest and taxes				$	119,500
Interest expense					10,400
Taxable income				$	109,100
Taxes (21%)					22,911
Net income				$	86,189
Dividends	$	32,540
Addition to retained earnings		53,649

SCOTT, INC. Balance Sheet as of December 31, 2019
Assets				Liabilities and Owners Equity
Current assets				Current liabilities
Cash	$	24,340		Accounts payable	$	57,800
Accounts receivable		33,670		Notes payable		14,900
Inventory		70,610		Total	$	72,700
Total	$	128,620		Long-term debt	$	102,000
				Owners equity
Fixed assets				Common stock and paid-in surplus	$	101,000
Net plant and equipment	$	211,000		Retained earnings		63,920
				Total	$	164,920
Total assets	$	339,620		Total liabilities and owners equity	$	339,620

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.)