The most recent financial statements for Crosby, Incorporated, follow. Sales for $2024$ are projected to grow by $30$ 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, INCORPORATED

$2023$ Income Statement

Sales $ $765,000$

Costs $621,000$

Other expenses $30,000$

Earnings before interest and taxes $ $114,000$

Interest paid $14,800$

Taxable income $ $99,200$

Taxes $(22\%)21,824$

Net income $ $77,376$

Dividends $ $24,840$

Addition to retained earnings $52,536$

CROSBY, INCORPORATED

Balance Sheet as of December $31,2023$

Assets Liabilities and Owners$$ Equity

Current assets Current liabilities

Cash $ $25,440$ Accounts payable $ $62,200$

Accounts receivable $34,880$ Notes payable $18,200$

Inventory $71,600$ Total $ $80,400$

Total $ $131,920$ Long$-$term debt $ $113,000$

Fixed assets Owners$$ equity

Net plant and equipment $ $222,000$ Common stock and paid$-$in surplus $ $112,000$

Accumulated retained earnings $48,520$

Total $ $160,520$

Total assets $ $353,920$ Total liabilities and owners$$ equity $ $353,920$

What is the EFN if the firm wishes to keep its debt$-$equity ratio constant?

Note: Do not round intermediate calculations and round your answer to the nearest whole dollar, e$.$g$.,32.$