MP1 Incorporated has $4 billion in assets, and its tax rate is 35%. Its basic earning power (BEP) ratio is 12%, and its return on assets (ROA) Is 3%. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the question below.

What is MPT's times-interest-earned (TIE) ratio? Round your answer to two decimal places.

\begin{tabular}{|c|c|c|c|c|} \hline A & B & C & D & E \\ \hline \multicolumn{5}{|l|}{ TIE ratio } \\ \hline & & & & \\ \hline Total Assets & $4,000,000,000.00 & & & \\ \hline Tax Rate & 35.00% & & & \\ \hline Basic Earning Power (BEP) Ratio & 12.00% & & & \\ \hline Return on Assets (ROA) & 3.00% & & & \\ \hline & & & Formulas & \\ \hline |EBIT & & & \#N/A & \\ \hline Net Income & & & #N/A & \\ \hline \multicolumn{5}{|l|}{ Partial Income Statement: } \\ \hline EBIT & $0.00 & & & \\ \hline Interest & & & #N/A & \\ \hline Earnings Before Taxes & & & \#N/A & \\ \hline Taxes & & & \#N/A & \\ \hline Net Income & & & \#N/A & \\ \hline & & & & \\ \hline 9 TIE Ratio & & & \#N/A & \\ \hline 0 & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline \end{tabular}