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Frank's Boat Shop, Inc. reports net income of $ 68,000, income before taxes of $ 110,000 and interest expense of $ 18,000. The weighted-average number
Frank's Boat Shop, Inc. reports net income of $ 68,000, income before taxes of $ 110,000 and interest expense of $ 18,000. The weighted-average number of shares of common stock outstanding during the year was 30,000 shares. What is the times-interest-earned ratio? (Round your final answer to two decimal places.)
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