Ch. 14 HW exercises CengageNOWV2 Online teaching and learning resource from Cengage eBook Calculator Times Interest Earned The following data were taken from recent annual reports of Caliber Company, which operates a low-fare airline service to more than 50 cities in the United States: Current Year Prior Year Interest expense $41,000 $45,000 Income before income tax expense 287,000 243,000 a. Determine the times interest earned ratio for the current and preceding years. Round to one decimal place. Current year Prior year b. Although Caliber Company had enough earnings to pay interest in the prior year, the debtholders. in this ratio will be by the