MPI Incorporated has $3 billion in assets, and its tax rate is 35%. Its basic earning power (BEP) ratio is 10%, and its return on assets (ROA) is 4%. 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 MPI's times-interest-earned (TIE) ratio? Round your answer to two decimal places.

1 TIE ratio 3 Total Assets 4 Tax Rate 5 Basic Earning Power (BEP) Ratio 6 Return on Assets (ROA) $3,000,000,000.00 35.00% 10.00% 4.00% 7 Formulas 8 EBIT 10 Net Income 12 Partial Income Statement: 13 EBIT 14 Interest 15 Earnings Before Taxes 16 Taxes 17 Net Income 18 19 TIE Ratio $0.00 #A/A #N/A #N/A 21