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Ajax Corp's sales last year were $515,000, its operating costs were $413,500, and its interest charges were $12,500. What was the firm's times-interest-earned (TIE) ratio?

Ajax Corp's sales last year were $515,000, its operating costs were $413,500, and its interest charges were $12,500. What was the firm's times-interest-earned (TIE) ratio?

a. 7.12
b. 6.84
c. 5.34
d. 9.12
e. 8.12

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