2. Coolidge Cola is forecasting the following income statement: Sales $30,000,000 Operating costs excluding depreciation 20,000,000 Depreciation 5,000,000 Operating income (EBIT) $ 5,000,000 Interest expense 2,000,000 Taxable income (EBT) $ 3,000,000 Taxes (40%) 1.200.000 Net income $ 1.800.000 Congress is considering a proposal which will allow companies to depreciate their equipment at $8,000,000 (instead of $5,000,000 shown on the statement above). The company's tax rate would remain at 40 percent and interest expenses remain at $2,000,000. If this proposal were to be implemented, what would be the company's new net income