Deacon Corporation has provided the following financial data from its balance sheet and income statement:

	Year 2	Year 1
Total assets	$ 1,235,000	$ 1,196,000
Total liabilities	$ 484,000	$ 479,000
Total stockholders' equity	$ 751,000	$ 717,000
Net operating income (income before interest and taxes)	$ 69,418
Interest expense	$ 30,000

The companys times interest earned ratio for Year 2 is closest to