Balance sheet and income statement data indicate the following:

Line Item Description Amount

Bonds payable, $10\%($due in $2$ years$)$ $$1,000,000$

Preferred $5\%$ stock, $$100$ par $($no change during year$)300,000$

Common stock, $$50$ par $($no change during year$)2,000,000$

Income before income tax expense $550,000$

Income tax expense $80,000$

Common dividends paid $50,000$

Preferred dividends paid $15,000$

Based on the data presented, what is the times interest earned ratio?

a$.6\mathrm{.}5$

b$.6\mathrm{.}4$

c$.5\mathrm{.}5$

d$.1\mathrm{.}5$