Edmonds Industries is forecasting the following income statement: Sales $4,000,000 Operating costs excluding depreciation & amortization 2,200,000 EBITDA $1,800,000 Depreciation and amortization 240,000 EBIT $1,560,000 Interest 400,000 EBT $1,160,000 Taxes (40%) 464,000 Net income $696,000 The CEO would like to see higher sales and a forecasted net income of $1,078,800. 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 40%, will remain the same. (Note that while the tax rate remains constant, the taxes paid will change.) What level of sales would generate $1,078,800 in net income? Please show how this would be determined?