Balance sheet and income statement data indicate the following: Bonds payable, 10% (due in two years) $908,000 Preferred 5% stock, $100 par (no change during year) 261,400 Common stock, $50 par (no change during year) 1,678,600 Income before income tax for year Income tax for year Common dividends paid Preferred dividends paid 397,347 85,626 83,930 13,070 Interest expense 90,800 Based on the data presented, what is the times interest earned ratio? Round your answer to two decimal places. O 0.44 5.38 3.38 2.29