For the most recent year, Seether, Inc., had sales of $440,000, cost of goods sold of $219,100, depreciation expense of $58,800, and additions to retained earnings of $51,000. The firm currently has 25,000 shares of common stock outstanding, and the previous year’s dividends per share were $1.25.
Assuming a 34 percent income tax rate, what was the times interest earned ratio?