QUESTION 9 In its most recent financial statements Driver Enterprises reported earnings before interest and taxes (EBIT) of $32,136 and interest expense of $2,585. Included in its operating expenses were lease expenses of $5,152. In a footnote Driver reported it had 11 years of future lease obligations averaging $6,400 per year. The company faces a cost of debt of 6%. Calculate the fixed charge coverage ratio after incorporating the valuation of the lease obligations and the additional financing expenses associated with them. Present your answer rounded to two decimal places, e.g., 20.00