MPI Incorporated has $8 billion in assets, and its tax rate is 35%. Its basic earning power (BEP) ratio is 8%, 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.

Formulas #N/A #N/A 1 TIE ratio 2 3 Total Assets $8,000,000,000.00 4 Tax Rate 35.00% 5 Basic Earning Power (BEP) Ratio 8.00% 6 Return on Assets (ROA) 4.00% 7 8 EBIT 9 10 Net Income 11 12 Partial Income Statement: 13 EBIT $0.00 14 Interest 15 Earnings Before Taxes 16 Taxes 17 Net Income 18 19 TIE Ratio 20 21 #N/A #N/A #N/A #N/A #N/A