Ivanhoe Monograms sells stadium blankets that have been monogrammed with high school and university emblems. The blankets retail for $45 throughout the country to loyal alumni of over 3,500 schools. Ivanhoes variable costs are 41% of sales; fixed costs are $118,000 per month.

Assume that variable costs increase to 45% of the current sales price and fixed costs increase by $13,400 per month. If Ivanhoe were to raise its sales price by 11% to cover these new costs, what would be the new annual breakeven point in sales dollars?