Edmonds Industries is forecasting the following income statement: Sales $7,000,000 Operating costs excluding depreciation & amortization 3,850,000 EBITDA $3,150,000 Depreciation and amortization 350,000 EBIT $2,800,000 Interest 420,000 $2,380,000 Taxes (25%) 595,000 Net income $1,785,000 The CEO would like to see higher sales and a forecasted net income of $2,950,000. Assume that operating costs (excluding depreciation and amortization) are 55% of sales and that depreciation and amortization and interest expenses will increase by 12%. 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 $2,950,000 in net income? Round your answer to the nearest dollar, if necessary. $