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Listed below is the 2015 income statement for Tom and Sue Travels, Inc. TOM AND SUE TRAVELS, INC. Income Statement for Year Ending December 31,

Listed below is the 2015 income statement for Tom and Sue Travels, Inc.

TOM AND SUE TRAVELS, INC. Income Statement for Year Ending December 31, 2015 (in millions of dollars)
Net sales $ 16.200
Less: Cost of goods sold 7.300

Gross profits $ 8.900
Less: Other operating expenses 3.300

Earnings before interest, taxes, depreciation, and amortization (EBITDA) $ 5.600
Less: Depreciation 2.100

Earnings before interest and taxes (EBIT) $ 3.500
Less: Interest 0.755

Earnings before taxes (EBT) $ 2.745
Less: Taxes 0.805

Net income $ 1.940

The CEO of Tom and Sues wants the company to earn a net income of $2.310 million in 2013. Cost of goods sold is expected to be 50 percent of net sales, depreciation and other operating expenses are not expected to change, interest expense is expected to increase to $0.855 million, and the firms tax rate will be 30 percent.

Calculate the net sales needed to produce net income of $2.310 million. (Enter your answer in millions of dollars rounded to 3 decimal places.)

Net sales $ m

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