eBook Problem Walk-Through Edmonds Industries is forecasting the following income statement: Sales Operating costs excluding depreciation & amortization EBITDA Depreciation and amortization EBIT $6,000,000 3,300,000 $2,700,000 480,000 $2,220,000 Interest EBT Taxes (25%) Net income 360,000 $1,860,000 465,000 $1,395,000 The CEO would like to see higher sales and a forecasted net income of $2,640,000. Assume that operating costs (excluding depreciation and amortization) are 55% of sales and that depreciation and amortization and interest expenses will increase by 13%. The tax rate, which is 25%, will remain the same. (Note that while the tax rate remains constant, the taxes paid will change.) What level of sales would generate $2,640,000 in net income? Round your answer to the nearest dollar, if necessary. S