blem #13 of 21 Balance sheet and income statement data indicate the following: Bonds payable, 4%, due in 20 years Preferred 8% stock, $100 par (no change during the year) Common stock, $50 par (no change during the year) $1,220,000 203,000 1,030,000 Income before income tax expense for year Income tax for year Common dividends paid Preferred dividends paid 325,000 83,000 63,000 16,500 Assuming this is the first year of the annual note payment, what is the times interest earned ratio (rounded to two decimal places)? a. 4.61 O b. 6.66 O c. 4.67 O d. 7.66