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Lever Age pays a(n) 8% rate of interest on $9.2 million of outstanding debt with face value $9.2 million. The firm's EBIT was $2.8 million.

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Lever Age pays a(n) 8% rate of interest on $9.2 million of outstanding debt with face value $9.2 million. The firm's EBIT was $2.8 million. a. What is times interest earned? (Round your answer to 2 decimal places.) Times interest earned If depreciation is $120,000, what is cash coverage? (Round your answer to 2 decimal b. places.) Cash coverage c. If the firm must retire $220,000 of debt for the sinking fund each year, what is its "fixed-payment cash-coverage ratio (the ratio of cash flow to interest plus other fixed debt payments)? (Round your answer to 2 decimal places.) Fixed-payment cash-coverage ratio

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