Check My Work (1 remaining) EBITDA EBIT eBook Problem Walk-Through Edmonds Industries is forecasting the following income statement: Sales $11,000,000 Operating costs excluding depreciation & amortization 6,050,000 $4,950,000 Depreciation and amortization 1,210,000 $3,740,000 Interest 990,000 $2,750,000 Taxes (25%) 687,500 $2,062,500 The CEO would like to see higher sales and a forecasted net income of $3,710,000. Assume that operating costs (excluding depreciation and amortization) are 55% of sales and that depreciation and amortization and interest expenses will increase by 11%. 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 $3,710,000 in net income? Round your answer to the nearest dollar, if necessary. EBT Net income