Given the following data: Net income, $70,000 Bonds payable, issued at face value, 8%, $5,000,000 Preferred Stock,
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Given the following data:
Net income, $70,000
Bonds payable, issued at face value, 8%, $5,000,000
Preferred Stock, $50 par value, 6%,10,000 shares issued & outstanding Tax rate is 30%
Determine the number of times interest charges are earned ratio. Round your answer to two decimal places.
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