Heat oven to 400ºF with the rack in the center. Line a rimmed baking sheet with foil.
If desired place a metal cooling rack on top of the foil. This will ensure crisp bacon, but it's not necessary.
Lay bacon slices on the rack or foil in a single layer. They can be touching and some pieces may be overlapping slightly. Bake until desired doneness, 20 to 27 minutes. Do not overbake: thin pieces will cook quickly, thick cut pieces will take longer.
Remove from the oven and transfer bacon strips to a paper towel lined plate. Let cool slightly and serve.
Notes
To store: Cooked bacon can be kept wrapped in the fridge for up to a week. To reheat: Reheat baked bacon in the microwave for 15-second intervals, or wrap it in foil and reheat it in the oven (about 8 minutes at 350ºF, I should think).