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Crates Unlimited reported operating income of $845,000, interest expense of $130,000, and net income of $529,100. The weighted-average number of shares of common stock outstanding
Crates Unlimited reported operating income of $845,000, interest expense of $130,000, and net income of $529,100. The weighted-average number of shares of common stock outstanding during the year was 150,000 shares. What is the times-interest-earned ratio? (Round your final answer to two decimal places.)
A. 4.07
B. 5.07
C. 6.50
D. 7.50
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