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Question(s) / Instruction(s):

A corporation had net income for the period was $108,000 and included interest expense of $9,000 and tax expense of $12,000. net Operating income (EBIT) was $129,000. Beginning and ending balances are provided below:

Total assets: Beginning = $400,000; Ending = $500,000

Total Stockholders\' equity: Beginning = $100,000; Ending = $208,000

What was the corporation\'s times-interest-earned ratio for the period?

a)            14.3 times

b)            13.3 times

c)            10.0 times

d)            15.6 times

e)            None of the above

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