In the past year, TVG had revenues of $3.04 million, cost of goods sold of $2.54 million, and depreciation expense of $130,280. The firm has a single issue of debt outstanding with book value of $1.04 million on which it pays an interest rate of 9%. What is the firm's times interest earned ratio? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Times interest earned
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This can be found on the company's income statement. Show more…
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