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# IE Ratio The H.R. Pickett Corp. has $350,000 of debt outstanding, and it pays an

The H.R. Pickett Corp. has $350,000 of debt outstanding, and it pays an annual interest rate of 12%. Its annual sales are $1.61 million, its average tax rate is 35%, and its profit margin is 3%. What is its TIE ratio? Round your answer to two decimal places.