Balance sheet and income statement data indicate the following: Bonds payable, 10% (due in 2 years) $1,000,000 Preferred 5% stock, $100 par (no change during year) 300,000 Common stock, $50 par (no change during year) 2,000,000 Income before income tax for year 550,000 Income tax for year 80,000 Common dividends paid 50,000 Preferred dividends paid 15,000 Based on the data presented, what is the times interest earned ratlo? (Round to one decimal place.) Oa. 6.5 times Ob. 1.5 times Oc. 6.4 times Od. 5.5 times