Alvarez Company had the following results:

Long-term debt (average rate of interest is 8%)	$400,000
Interest expense	42,000
Net income	58,000
Income tax	35,000
Depreciation and amortization expense	20,000
Operating income	126,000

What is the Times Interest Earned ratio?

	a.	3.7
	b.	3.0
	c.	3.2
	d.	9.5
	e.	1.4