Interest charges were earned for current and preceding years

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Reference no: EM131256768

The following data were taken from recent annual reports of Caliber Company, which operates a low-fare company service to over 50 cities in the United States. Current Year Preceding Year Interest expense $42,000 $46,000 Income before income tax 247,800 197,800

a. Determine the number of times interest charges were earned for the current and preceding years. Round to one decimal place.

Current year & Preceding year

Reference no: EM131256768

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