As a shareholder of an oil company, you receive its annual report. In the financial statements, the firm reported assets of $$8$ million,

liabilities of $$5$ million, after$-$tax earnings of $$2$ million, and $805,000$ outstanding shares of common stock.

a$.$ Calculate the earnings per share of this oil company's common stock. $($Round your answer to $2$ decimal places. Omit the $"$$$"$ sign

in your response.$)$

Earnings per share $

b$.$ Assuming a share of this oil company's common stock has a market value of $$40,$ what is the firm's price$-$earnings ratio? $($Round

your intermediate calculations to $2$ decimal places and final answer to the nearest whole number.$)$

Price$-$earnings ratio