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18. Problem 4.18 (TIE Ratio) eBookProblem Walk-Through MPI Incorporated has $12 billion in assets, and its tax rate is 25%. Its basic earning power (BEP)

18. Problem 4.18 (TIE Ratio)

eBookProblem Walk-Through
MPI Incorporated has $12 billion in assets, and its tax rate is 25%. Its basic earning power (BEP) ratio is 11%, and its return on assets (ROA) is 3%. What is MPI's times-interest-earned (TIE) ratio? Do not round intermediate calculations. Round your answer to two decimal places.

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