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Calculating the Times-Interest-Earned Ratio

Alessandra Makeup Manufacturers provided the following income statement for last year:

Sales	$51,350,000
Cost of goods sold	19,250,000
Gross margin	$32,100,000
Operating expenses	6,200,000
Operating income	$25,900,000
Interest expense	9,500,000
Income before taxes	$16,400,000
Income taxes	6,560,000
Net income	$9,840,000

Required:

Calculate the times-interest-earned ratio. Round the answer to one decimal place.