Income Statement Hermann 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 980,000 EBIT $2,170,000 Interest 630,000 EBT $1,540,000 Taxes (40%) 616,000 Net income $924,000 The CEO would like to see higher sales and a forecasted net income of $1,524,600. Assume that operating costs (excluding depreciation and amortization) are 55% of sales and that depreciation and amortization and interest expenses will increase by 10%. The tax rate, which is 40%, will remain the same. What level of sales would generate $1,524,600 in net income? If necessary, round your answer to the nearest dollar at the end of the calculations.