Express Company reported sales of $770,000 in the year 2013. Interest expense for the year amounted to $10,800; income tax expense, $33,000; and selling and administrative expense, $14,000. The company reported net income after taxes of $42,000. Compute the times interest earned ratio for the year.

A. 6.94 B. 2.60 C. 7.94 D. 9.24

Show your work; points will be awarded only if process to solve is shown.