The Bullorbear Company has 500,000 shares of \($2\) preferred stock outstanding. It generates an EBIT of \($40\) million and has annual interest payments of \($2\) million. Given this information, determine the fixed charge coverage of the preferred stock—assume the dividends qualify for the preferential tax rate. Given that the firm also has \($5.5\) million in depreciation and amortization, use EBITDA to find the fixed charge coverage of this preferred stock.