The most recent financial statements for Crosby, Inc., follow. Sales for 2018 are projected to grow by 25 percent. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales. CROSBY, INC. 2017 Income Statement Sales Costs Other expenses $ 767,000 623,000 31,000 Earnings before interest and taxes Interest paid $ 113,000 15,600 Taxable income Taxes (24%) $ 97,400 23,376 Net income $ 74,024 Dividends Addition to retained earnings $23,440 50,584 CROSBY, INC. Balance Sheet as of December 31, 2017 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 25,640 Accounts payable $ 63,000 Accounts receivable 35,100 Notes payable 18,800 Inventory 71,780 Total $ 81,800 Total $ 132,520 Long-term debt $ 115,000 Fixed assets Owners' equity Common stock and paid-in $ 114,000 surplus Retained earnings 45,720 Net plant and equipment $224,000 Total $ 159,720 Total assets $356,520 Total liabilities and owners' equity $356,520 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.) EFN