Hedgepeth Inc.’s net income for the most recent year was $16,885. The tax rate was 40 percent. The firm paid $3,976 in total interest expense and deducted $2,655 in depreciation expense. What was the cash coverage ratio for the year? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))
Find the cash coverage ratio: ______ Times
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