Balance sheet and income statement data indicate the following: < Income before income tax for year Bonds payable, 10% (due in two years) $864,000 Preferred 5% stock, $100 par (no change during year) 229,600 Common stock, $50 par (no change during year) 2,181,300 336,421 80,025 109,065 11,480 86,400 Income tax for year Common dividends paid Preferred dividends paid Interest expense Based on the data presented, what is the times interest earned ratio? Round your answer to two decimal places. Select the correct answer. 2.89 0.39 4.89 x2.57