Problem 2-37 Income Statement (LG2-1) Listed below is the 2021 income statement for Tom and Sue Travels, Inc. TOM AND SUE TRAVELS, INC. Income Statement for Year Ending December 31, 2021 (in millions of dollars) Net sales $ 19.600 Less: Cost of goods sold 9.000 Gross profits $ 10.600 Less: Other operating expenses 4.150 Earnings before interest, taxes, depreciation, and amortization (EBITDA) $ 6.450 Less: Depreciation 3.800 Earnings before interest and taxes (EBIT) $ 2.650 Less: Interest 0.840 Earnings before taxes (EBT) $ 1.810 Less: Taxes 0.380 Net income $ 1.430 The CEO of Tom and Sues wants the company to earn a net income of $3.200 million in 2022. Cost of goods sold is expected to be 60 percent of net sales, depreciation and other operating expenses are not expected to change, interest expense is expected to increase to $1.306 million, and the firms tax rate will be 21 percent. Calculate the net sales needed to produce net income of $3.200 million. (Enter your answer in millions of dollars rounded to 3 decimal places.)