Balance sheet and income statement data indicate the following:

Line Item Description Amount

Bonds payable, $10\%($due in $2$ years$)$ $$962,000$

Preferred $5\%$ stock, $$100$ par $($no change during year$)235,500$

Common stock, $$50$ par $($no change during year$)1,775,700$

Income before income tax expense $355,539$

Income tax expense $71,679$

Common dividends paid $88,785$

Preferred dividends paid $11,775$

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

a$.2\mathrm{.}71$

b$.2\mathrm{.}70$

c$.4\mathrm{.}70$

d$.0\mathrm{.}37$