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Tobin Supplies Company expects sales next year to be $530,000. Inventory and accounts receivable will increase $95,000 to accommodate this sales level. The company has

Tobin Supplies Company expects sales next year to be $530,000. Inventory and accounts receivable will increase $95,000 to accommodate this sales level. The company has a steady profit margin of 25 percent with a 40 percent dividend payout. How much external financing will Tobin Supplies Company have to seek?

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