For the most recent year, Seether, Inc., had sales of $437,000, cost of goods sold of $219,400, depreciation expense of $59,100, and additions to retained earnings of $51,300. The firm currently has 22,000 shares of common stock outstanding, and the previous year’s dividends per share were $1.35.
Required:
Assuming a 30 percent income tax rate, what was the times interest earned ratio? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)