Beech Company provided the following income statement for last year:
Cost of goods sold. 15,300,000
Gross margin. $ 9,050,735
Operating expenses. 4,910,685
Operating income. $ 4,140,050
Interest expenses. 487,015
Net income before taxes. $ 3,653,035
Income taxes. 1,461,214
Net income. $ 2,191,821
Calculate the times-interest-earned ratio. Round the answer to one decimal place.
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