A square footing with a size of 8 ft by 8 ft is to carry a total load of 40 kips. The depth of footing is 5 ft below the ground surface and groundwater is located at the ground surface. The subsoil consists of a uniform deposit of soft clay, the cohesion of which is 500 lb/ft2. The soil's unit weight is 110 lb/ft3. Compute the factor of safety against bearing capacity failure.
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