ABC Inc. earned a gross profit of $300,000 on sales of $1,200,000 during 2018. The company also had operating expenses of $180,000. These operating 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 times 4.5 times 5 times 3.2 times