Assume Marble is projecting a 20% increase in sales for the coming year, with current assets, all costs, and current liabilities proportional to sales. Long-term debt is not proportional to sales. If the
ﬁrm's tax rate remains unchanged, the dividend payout is 40%, and Marble is operating at 70% of
Capacity, what is the external ﬁnancing needed (EFN) for 2015 ($ in millions)?

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 Assume Marble is projecting a 20% increase in sales for the coming year, with current assets, all costs, and current liabilities proportional to sales. Long-term debt is not proportional to sales. If the
ﬁrm's tax rate remains unchanged, the dividend payout is 40%, and Marble is operating at 70% of
Capacity, what is the external ﬁnancing needed (EFN) for 2015 ($ in millions)?

Assume Marble Is Projecting a 20% Increase in Sales for the Coming