Balance sheet and income statement data indicate the following:

Bonds payable, 10% (due in two years) $877,000

Preferred 5% stock, $100 par (no change during year) 258,100

Common stock, $50 par (no change during year) 1,861,700

Income before income tax for year 302,813

Income tax for year 82,869

Common dividends paid 93,085

Preferred dividends paid 12,905

Interest expense 87,700

Based on the data presented, what is the times interest earned ratio? Round your answer to two decimal places.

A 2.90

B 2.45

C4.45

D0.35