Balance sheet and income statement data indicate the following: $1,200,000 200,000 1,000,000 Bonds payable, 6% (issued 1993, due 2018) Preferred 8% stock, $100 par (no change during the year) Common stock, $50 par (no change during the year) Income before income tax for year Income tax for year Common dividends paid Preferred dividends paid 320,000 80,000 60,000 16,000 Based on the data presented above, what is the times interest earned ratio (rounded to two decimal places)? a. 3.50 b. 3.44 c. 5.44 d.4.44