Balance sheet and income statement data indicate the following:

Bonds payable, 10% (due in two years)	$819,000
Preferred 5% stock, $100 par (no change during year)	294,100
Common stock, $50 par (no change during year)	2,197,300
Income before income tax for year	378,467
Income tax for year	88,655
Common dividends paid	109,865
Preferred dividends paid	14,705
Interest expense	81,900

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

2.16

3.62

0.46

5.62