Times interest earned The following data were taken from recent annual reports of Caliber Company, which operates a low-fare airline service to more...
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Times interest earned

The following data were taken from recent annual reports of Caliber Company, which

operates a low-fare airline service to more than 50 cities in the United States:

 Current YearPreceding YearInterest expense$76,000 $83,000 Income before income tax319,200 199,200 

a. Determine the times interest earned ratio for the a. Current and b. Preceding years. Round to one decimal place.

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