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Attempts: Keep the Highest: / 0.5 7. Problem 3.15 (Income Statement) eBook Problem Walk-Through Edmonds Industries is forecasting the following income statement: Sales $9,000,000 Operating costs excluding depreciation & amortization 4,950,000 EBITDA $4,050,000 Depreciation and amortization 810,000 EBIT $3,240,000 Interest 450,000 EBT $2,790,000 Taxes (25%) 697,500 Net income $2,092,500 The CEO would like to see higher sales and a forecasted net income of $2,910,000. 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 $2,910,000 In net income? Round your answer to the nearest dollar, if necessary