Edmonds Industries is forecasting the following income statement: Sales Operating costs excluding depreciation & amortization EBITDA Depreciation and amortization $10,000,000 5,500,000 $4,500,000 EBIT Interest EBT Taxes (25%) Net income 500,000 $4,000,000 600,000 $3,400,000 850,000 $2,550,000 The CEO would like to see higher sales and a forecasted net income of $5,000,000. Assume that operating costs (excluding depreciation and amortization) are 55% of sales and that depreciation and amortization and interest expenses will increase by 6%. 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 $5,000,000 in net income? Round your answer to the nearest dollar, if necessary. $