e-Shop Inc. provides the following information for the year 2015:

Net income	$250,000
Market price per share of common stock	$50 per share
Dividends paid	$180,000
Common stock outstanding at Jan. 1, 2015	150,000 shares
Common stock outstanding at Dec. 31, 2015	200,000 shares

The company has no preferred stock outstanding. Calculate the price/earnings ratio of common stock.

		A. 35 times
		B. 45 times
		C. 40 times
		D. 50 times