Lever Age pays a(n) 9% rate of interest on $11.0 million of outstanding debt with face value $11.0 million. The firm’s EBIT was $2.0 million.
If the firm must retire $400,000 of debt for the sinking fund each year, what is its “fixed-payment cash-coverage ratio” (the ratio of cash flow to interest plus other fixed debt payments)? (Round your answer to 2 decimal places.)