$3.$ Q $35\%.$

Sambonoza Enterprises projects its sales next year in $2019$ to be $$4$ million and expects to earn $5$percent of that amount after taxes. The firm is currently in the process of projecting its financingneeds and has made the following assumptions $($projections$)$: $($A Current assets will equal $20$percent of sales, and fixed assets will remain at their current level of $$1$ million. $(2)$ Common equityis currently $$0\mathrm{.}8$ million, and the firm pays out half of its after$-$tax earnings in dividends. $(3)$ Thefirm has short$-$term payables and trade credit that normally equal $10$ percent of sales together, and ithas no long$-$term debt$$outstanding$.$