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Last year, the Rondoelea Products Company had $ 1 3 2 million in annual sales and a net profit margin of 1 0 . 3

Last year, the Rondoelea Products Company had $132 million in annual sales and a net profit margin of 10.3 percent. In addition, Rondoelea's average tax rate was 30 percent. If Rondoelea had $35 million of debt outstanding with an average interest rate of 10.6 percent, what is the firm's times interest earned ratio? (Round to one decimal place.)
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