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(Capital structure analysis) Last year the Rondoelea Products Company had $ 132 million in annual sales and a net profit margin of 9.4 percent. In
(Capital structure analysis) Last year the Rondoelea Products Company had $ 132 million in annual sales and a net profit margin of 9.4 percent. In addition, Rondoelea's average tax rate was 30 percent. If Rondoelea had $ 44 million of debt outstanding with an average interest rate of 9.7 percent, what is the firm's times interest earned ratio? The times interest earned ratio is ? times.(Round to one decimal place.)
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