Balance sheet and income statement data indicate the following: Income before income tax for year Bonds payable, 10% (due in two years) $962,000 Preferred 5% stock, $100 par (no change during year) 237,400 Common stock, $50 par (no change during year) 2,169,700 340,676 75,414 108,485 11,870 96,200 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. 4.54 0.35 2.54 2.82