The prior Balance Sheet for ABC Inc showed total assets as $7, 052, 000, total current liabilities as $700,000 and total owner's equity as $3,750, 000. It is projected that total assets will increase by 5% in the coming year and all new financing willl be funded by long-term debt (hence total owners' equity remained the same). If total current liabilities is estimated to grow as total assets, hence, calculate how much long-term debt is needed to finance future projects. (i.e what will its projected value be in the pro forma statement)