ABC Inc. earned a gross profit of $$340,000$ on sales of $$1,200,000$ during the year. The company also

had operating expenses of $$180,000.$ Other expenses included interest expense of $$40,000.$ The

company is subject to an effective income tax rate of $30\%.$ What is the company's times interest

earned ratio for the year?

$4\mathrm{.}5$ times

$5$ times

$3\mathrm{.}2$ times

$4$ times