A company is considering a project that would cost $7,000,000, which would be financed with the issue of new shares. Currently, the company has 1,800,000 shares outstanding that have a book value of $30 per share. If the company proceeds with the project, its new market value per share is expected to be $33 and its new EPS is expected to be $2.75. Assume the company's current PE ratio would remain constant. What is the company's current PE ratio?

Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit any commas in your response. For example, an answer of 1,000.50 should be entered as 1000.50.