Cleveland Corporation has 100,000 shares of common stock outstanding, a net income of $750,000 and does not pay any common or preferred dividends. Cleveland has a price to earnings ratio (P/E) of 8. What is the company's stock price? (Hint: the formula for Earnings per share is Net Income - Preferred Dividends / number of common stock outstanding). 0 $20.00 0 $30.00 0 $40.00 O $50.00 0 O $60.00