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Last year, Crystal Rock Holdings reported $510,000 of sales, $262,500 of operating costs other than depreciation, and $10,200 of depreciation. The company had $600,000 of
Last year, Crystal Rock Holdings reported $510,000 of sales, $262,500 of operating costs other than depreciation, and $10,200 of depreciation. The company had $600,000 of bonds outstanding that carry a 6.8% interest rate, and its income tax rate was 40%. What was the firm's times-interest-earned (TIE) ratio? Your answer should be between 4.20 and 7.12, rounded to 2 decimal places, with no special characters
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