Daniel Corporation had net income for 2024 of $74,000. Daniel had 9,000 shares of common stock outstanding at the beginning of the year and 26,000 shares of common stock outstanding at the end of the year. There were 10,000 shares of preferred stock outstanding all year. During2024, Daniel declared and paid preferred dividends of $25,000. On December31, 2024, the market price ofDaniel's common stock is $45 per share and the market price of its preferred stock is $74 per share.

What isDaniel's price/earnings ratio at December31, 2024? (Round any intermediate calculations and your final answer to the nearest cent.)