Suppose Rocky Brands has earnings per share of ​$2.25 and EBITDA of ​$31.1 million. The firm also has 4.9 million shares outstanding and debt of ​$120 million​ (net of​ cash). What is the firm's debt-to-EBITDA ratio?
a) 3.86
b) 3.85
c) 3.87
d) 3.84