Intro Model Corp.'s most recent balance sheet and income statement are given below (all numbers in $ million): Assets Cash Accounts receivable Inventory Current assets Machinary Total assets 32 64 96 192 128 320 Liabilities and Equity Accounts payable 96 Current liabilities 96 Long-term debt 128 Total liabilities 224 Equity Total liab. & equity 320 Income statement Sales Costs Depreciation EBIT Interest Taxable income Taxes Net income 5.98 11.62 Sales, assets and costs (including depreciation) are expected to grow by 26% next year, while the tax rate and long-term debt will stay constant. The company pays out 80% of net income as dividends. Part 1 IB Attempt 2/10 for 9 pts. Using the percentage of sales method, what will be the net income next year (in $ million)? H+ decimals Submit