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At the end of last year, Edwin Inc. reported the following income statement (in millions of dollars): Sales $4,190.00 Operating costs (excluding depreciation) 3,060.00 EBITDA

At the end of last year, Edwin Inc. reported the following income statement (in millions of dollars):

Sales $4,190.00
Operating costs (excluding depreciation) 3,060.00
EBITDA $1,130.00
Depreciation 325.00
EBIT $805.00
Interest 140.00
EBT $665.00
Taxes (40%) 266.00
Net income $399.00

Looking ahead to the following year, the company's CFO has assembled this information:

  • Year-end sales are expected to be 6% higher than $4.19 billion in sales generated last year.
  • Year-end operating costs, excluding depreciation, are expected to increase at the same rates as sales.
  • Depreciation costs are expected to increase at the same rate as sales.
  • Interest costs are expected to remain unchanged.
  • The tax rate is expected to remain at 40%.

On the basis of this information, what will be the forecast for Edwin's year-end net income? Enter your answers as positive values. Enter your answers in millions. For example, an answer of $10,550,000 should be entered as 10.55. Do not round intermediate calculations. Round your answers to two decimal places.

Edwin Inc. Income Statement (in millions of dollars)

Sales$

Operating costs (excluding depreciation)

EBITDA$

Depreciation

EBIT$

Interest

EBT$

Taxes (40%)

Net income$

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