Following is information relating to Watson, Inc. Assume that all balance sheet accounts represent both average and ending balance figures and that all sales were on credit.

Assets
Cash and short-term investments	$ 30,000
Accounts receivable (net)	20,000
Merchandise inventory	15,000
Property, plant, and equipment	185,000
Total assets	$ 250,000
Liabilities and Stockholders' Equity
Current liabilities	$ 45,000
Long-term liabilities	70,000
Stockholders' equity - common	135,000
Total liabilities and stockholders' equity	$ 250,000
Income Statement
Sales	$ 85,000
Cost of merchandise sold	45,000
Gross profit	$ 40,000
Operating expenses	(15,000)
Interest expense	(5,000)
Net income	$ 20,000
Number of shares of common stock outstanding			6,000
Market price of common stock			$ 20
Total dividends paid			$ 9,000
Net cash flows from operating activities			$ 30,000

Using the data provided, what is the price-earnings ratio for Watson, Inc.?