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MPI Incorporated has $12 billion in assets, and its tax rate is 25%. Its basic earning power (BEP) ratio is 12%, and its return on

MPI Incorporated has $12 billion in assets, and its tax rate is 25%. Its basic earning power (BEP) ratio is 12%, and its return on assets (ROA) is 5%. What is MPI's times-interest-earned (TIE) ratio? Do not round intermediate calculations. Round your answer to two decimal places.

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