Alumbat Corporation has $1,000,000 of debt outstanding. It pays an interest rate of 8% annually on this debt. Alumbat's annual sales are over $5,000,000 , its tax rate is 40% and its profit margin on sales (net profit margin) is 6%. The company must maintain a TIE ratio of at least 4 times. Calculate Alumbat's current TIE ratio.