Daniel Sawyer, the CEO of the Sawyer Group, is initiating planning for the company's operations...
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Daniel Sawyer, the CEO of the Sawyer Group, is initiating planning for the company's operations next year, and he wants you to forecast the firm's additional funds needed (AFN). The firm is operating at full capacity. Data for use in your forecast are shown below. Based on the AFN equation, what is the AFN for the coming year? Dollars are in millions. $350 $40 30% $50 Last year's sales = 50 Sales growth rate = 8 Last year's total assets = A0* Last year's profit margin = PM Last year's accounts payable Last year's notes payable Last year's accruals Target payout ratio $470 $30 5% 60% Select the correct answer. a. $104.5 O b. $117.3 c. $120.5 O d. $114.1 e. $110.9 ho Icon Key Question 4 of 10 Save Submit Test for Grading
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