2009 Income Statement
Sales	$2,000
Variable Cost	$1,200
Fixed Cost	$700
Earnings before Interest and Taxes(EBIT)	$100
Interest	$16
Earnings before taxes	$84
Taxes	$33.60
Net Income	$50.40
Dividends	$15.12
Addition to Reatined Earnings	$35.28

2009 Balance Sheet
Cash and Securities	$20	Accounts Payable and Accruals	$100
Accounts Receivables	$240	Notes Payable	$100
Inventories	$240	Total Current Liabilities	$200
Total Current Assets	$500
		Long Term Debt	$100
Net Fixed Assets	$500	Common Stock	$500
		Retained Earnings	$200
Total Assets	$1,000	Total Liabilities and Equity	$1,000

2009 Key Ratios
	NWC	INDUSTRY
Profit Margin	2.52%	4%
Return on Equity	7.20%	15.60%
Days Sales Outstanding(360 Days)	43.20 days	32 days
Inventory Turnover	5.00X	8.00X
Fixed Assets Turnover	4.00X	5.00X
Total Assets Turnover	2.00X	2.50X
Total Debt Ratio	30%	36%
Times Interest Earned	6.25X	9.40x
Current ratio	2.50X	3.00x
Payout Ratio	30%	30%

If all external financing needs are financed by debt (notes payable and long term debt) carries an interest rate of 8%, what will be the interest expense of the company next year?