Refer to the Alexia Corporation data in Short Exercise 13-17. Assume the market price of Alexia Corporation’s common stock is \($16.00\) per share. Compute Alexia Corporation’s price/earnings ratio.

Data From Exercise 13-17:

Alexia Corporation had net income for 2025 of \($40,000\). Alexia Corporation had 13,500 shares of common stock outstanding at the beginning of the year and 14,000 shares of common stock outstanding as of December 31, 2025. During the year, Alexia Corporation declared and paid preferred dividends of \($3,000\). Compute Alexia Corporation’s earnings per share.