In Year 1, a company’s cash is 15 percent of sales, accounts receivable is 10 percent of sales, inventory is 20 percent of sales, accounts payable is 30 percent of sales, and long-term debt is 5 percent of sales. The company is preparing its forecasts and anticipates that sales will increase from USD50,000 in Year 1 to USD55,000 in Year 2. The company uses the percentage-of-sales method. What amount would be the required net working capital in Year 2?
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