Target had 1,897 stores, of which 1,526 of store were owned and the remained leased, for a total of 241,648 retail square feet as of January, 30, 2021. Assume the following for the next 12 months:

-Sales per retail sq. ft. for existing stores will increase by 5%

-Target plans to open 100 new stores in urban areas and close 10 of the existing stores in rural areas.

-The new stores average square footage will be the same as that of existing stores.

-The new stores are expected to open evenly throughout the year and to generate 20% more sales per sq. ft. than existing stores. Stores are expected to close evenly throughout the year.

1.[12 points] Based on the assumptions above, what are projected sales for Target for the year ended January 31, 2022?