INCOME STATEMENT Edmonds Industries is forecasting the following income statement Sales $8,000,000 Operating costs excluding depreciation & amortization 4,400,000 EBITDA $3,600,000 Depreciation and amortization 560,000 EBIT $3,040,000 Interest 400,000 EBT $2,640,000 Taxes (40%) 1,056,000 Net income $1,584,000 The CEO would like to see higher sales and a forecasted net income of $2,692,800. Assume that operating costs (excluding depreciation and amortization) are 55% of sales and that depreciation and amortization and interest expenses will increase by 8%. 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 $2,692,800 in net income? If necessary, round your answer to the nearest dollar at the end of the calculations