Use the following information to answer the questions:

Assets			Liabilities and Equity
Cash	8,000		Accounts payable	20,000
Marketable securities	2,000		Notes payable	6,000
Accounts receivable	5,000		Current liabilities	26,000
Inventory	24,000		Long-term debt	95,000
Current assets	39,000		Total liabilities	121,000
Machines	34,000		Paid-in capital	20,000
Real estate	80,000		Retained earnings	12,000
Net fixed assets	114,000		Equity	32,000
Total assets	153,000		Total liab. & equity	153,000

Line item	Value
Sales	74,000
- Costs	60,680
- Depreciation	2,000
= EBIT	11,320
- Interest	800
= Taxable income	10,520
- Taxes	3,472
= Net income	7,048

What is the times-interest-earned ratio?