The following data were taken from recent annual reports of Caliber Company, which operates a low-fare airline service to more than 50 cities in the United States: Current Year Prior Year Interest expense Income before income tax expense $59,000 401,200 $65,000 325,000 a. Determine the times interest earned ratio for the current and preceding years. Round to one decimal place. Current year Prior year b. Although Caliber Company had enough earnings to pay interest in the prior year, the i in this ratio will be p by the debtholders.