Question

Trying to find the external financing needed to support the 20% growth rate in sales of a company who is operating at full capacity and no debt or equity is issued with the following information:

Sales for 2007 are projected to grow by 20 percent.

Interest expense will remain constant; the tax rate and the dividend payout rate will remain constant.

Costs, other expenses, current assests, and accounts payable increase spontaneously with sales.

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