Hale Electronics reported the following amounts on its 2013 income
Hale Electronics reported the following amounts on its 2013 income statement:
Year Ended December 31, 2013
Net income ............ $ 48,400
Income tax expense ........ 7,260
Interest expense ........... 4,000
What is Hale’s times-interest-earned ratio for 2013? (Round the answer to two decimals.)

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