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Times interest earned Loomis, Inc. reported the following on the company's income statement in two recent years: Current Year Prior Year $412,800 Interest expense $344,000

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Times interest earned Loomis, Inc. reported the following on the company's income statement in two recent years: Current Year Prior Year $412,800 Interest expense $344,000 4,623,360 Income before income tax expense 4,059,200 a. Determine the times interest earned ratio for the current year and the prior year. Round to one decimal place. Current year Prior year

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