Paladin Furnishings generated $2 million in sales during 2016 and its total assets at the end of the year were $1.5 million. Likewise, at the end of 2016, current liabilities amounted to $500,000, made up of $200,000 of notes payable, $200,000 of accounts payable and $100,000 of accumulated liabilities. Going into 2017, the company estimates that its assets should increase by $0.75 for every $1.00 increase in sales. Paladin's profit margin is 4% and its retention rate is 35%.

What increase in sales can the company achieve without having to raise funds externally?

Write your answer completely. For example, 25 million should be entered as 25,000,000. Do not round intermediate calculations. Round your answer to the nearest cent.

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