Driver Enterprises just reported earnings before interest and taxes (EBIT) of $46,127 and interest expense of $4,697. Included in its reported operating expenses were lease expenses of $17,942. Using footnote data and a discount rate of 6% you have determined the present value of the company's future lease obligations to be $41,103. Calculate the interest coverage ratio based on the as-reported income statement data (i.e., without accounting for the valuation of the lease obligations) and present your answer rounded to two decimal places, e.g., 20.00