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A company’s sales last year were $72 million and it operated at full capacity. Its sales...

A company’s sales last year were $72 million and it operated at full capacity. Its sales this year are expected to increase by 8.7%. The company needs $0.55 of assets per dollar of sales to operate and its current liabilities are $0.11 per dollar of sales. The company’s profit margin is 4.1% and its dividend payout ratio is 60%. What amount of additional funds does the company need to support this year’s projected sales?

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