eBook Problem Walk-Through Edmonds Industries is forecasting the following income statement: Sales $10,000,000 Operating costs excluding depreciation & amortization 5,500,000 EBITDA $4,500,000 Depreciation and amortization 700.000 EBIT $3,800,000 Interest 700,000 EBT $3,100,000 Taxes (25%) 775,000 Net income $2.325,000 The CEO would like to see higher sales and a forecasted net income of 4,490,000. Asume 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 $4,490,000 in net income? Round your answer to the nearest dollar, necessary $