A company has earnings per share net income of $90,000; its weighted-average common shares outstanding are 18,000. Its dividend per share is $0.45, its market price per share is $88, and its book value per share is $76. Its price-earnings ratio equals:

a. 9.0.

b. 17.6.

c. 12.5.

d. 15.2.

e. 16.9.