Sheridan Monograms sells stadium blankets that have been monogrammed with high school and university emblems. The blankets retail for $46 throughout the country to loyal alumni of over 3,800 schools. Sheridans variable costs are 42% of sales; fixed costs are $116,000 per month.

Assume that variable costs increase to 47% of the current sales price and fixed costs increase by $11,900 per month. If Sheridan were to raise its sales price by 12% to cover these new costs, what would be the new annual breakeven point in sales dollars?