Skip to main contentWeek 4 Application Problems (LO1) (LO2) (LO3) (LO4) - 20 pointsAnswerSavedHelp opens in a new windowSave & ExitSubmit Item1 10 points eBookPrintReferencesCheck my workCheck My Work button is now enabledItem 1 As the chief financial officer of Adirondack Designs, you have the following information: Next year's expected net income after tax but before new financing $ 40 million Sinking-fund payments due next year on the existing debt $ 15 million Interest due next year on the existing debt $ 10 million Common stock price, per share $ 28.0 Common shares outstanding 20 million Company tax rate 40% Calculate Adirondack's times-interest-earned ratio for next year assuming the firm raises $50 million of new debt at an interest rate of 3 percent. Calculate Adirondack's times-burden-covered ratio for next year assuming annual sinking-fund payments on the new debt will equal $4.5 million. Calculate next year's earnings per share assuming Adirondack raises the $50 million of new debt. Calculate next year's times-interest-earned ratio, times-burden-covered ratio, and earnings per share if Adirondack sells 1.5 million new shares at $25 a share instead of raising new debt. Note: Do not round intermediate calculations. Round "Earnings per share" answers to 2 decimal places and other answers to 1