Robert Corporation had net income of $261,120 and paid dividends to common stockholders of $42,900. They had 54,400 shares of common stock outstanding during the entire year. Robert Corporation's common stock is selling for $63 per share on the New York Stock Exchange. Determine Robert Corporation's price-earnings ratio (Round to two decimal places).

Select the correct answer.

4.80 times

13.13 times

1.00 times

16.00 times