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​(Financial forecasting​) Sambonoza Enterprises projects its sales next year to be ​$8 million and expects to...

​(Financial forecasting​) Sambonoza Enterprises projects its sales next year to be ​$8 million and expects to earn 4 percent of that amount after taxes. The firm is currently in the process of projecting its financing needs and has made the following assumptions​ (projections):1. Current assets will equal 28 percent of​ sales, and fixed assets will remain at their current level of ​$1 million.2. Common equity is currently ​$0.90 ​million, and the firm pays out half of its​ after-tax earnings in dividends.3. The firm has​ short-term payables and trade credit that normally equal 15 percent of​ sales, and it has no​ long-term debt outstanding.

What are​ Sambonoza's financing needs for the coming​ year?

​Sambonoza's financing needs for the coming year are ​$ million.  ​(Round to two decimal​ places.)

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ANSWER IS ASKED IN MILLIONS, ROUNDED TO 2 DECIMALS

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