Given is the Income Statement for the year ended December 31, 20XX, Statement of Retained Earnings for the year ended December 31, 20XX and Comparative Balance Sheets for 20XX and 20XW of Maris Corporation:

Maris Corporation Income Statement Year Ended December 31, 20XX
Sales	$3,300,000
Cost of goods sold	1,950,000
Gross profits	1,350,000
Selling and administrative expense	650,000
Amortization expense	230,000
Operating income	470,000
Interest expense	80,000
Earnings before taxes	390,000
Taxes	140,000
Earnings after taxes	250,000
Preferred stock dividends	10,000
Earnings available to common shareholders	$240,000
Shares outstanding	150,000
Earnings per share	$1.60

Statement of Retained Earnings For the Year Ended December 31, 20XX
Retained earnings, balance, January 1, 20XX	$800,000
Add: Earnings available to common shareholders, 20XX	240,000
Deduct: Cash dividends declared and paid in 20XX	140,000
Retained earnings, balance, December 31, 20XX	$900,000

Comparative Balance Sheets For 20XX and 20XW
	December 31, 20XX		December 31, 20XW
Assets
Current assets:
Cash		$120,000		$100,000
Accounts receivable (net)		510,000		500,000
Inventory		640,000		610,000
Prepaid expenses		30,000		60,000
Total current assets		1,300,000		1,270,000
Investments (long-term securities)		80,000		90,000
Plant and equipment	2,600,000		2,000,000
Less: Accumulated depreciation	1,230,000		1,000,000
Net plant and equipment		1,370,000		1,000,000
Total assets		$2,750,000		$2,360,000
Liabilities and Shareholders Equity
Current liabilities:
Accounts payable		$550,000		$300,000
Notes payable		500,000		500,000
Accrued expenses		50,000		70,000
Total current liabilities		1,100,000		870,000
Long-term liabilities:
Bonds payable, 20XY		160,000		100,000
Total liabilities		1,260,000		970,000
Shareholders equity:
Preferred stock		90,000		90,000
Common stock		500,000		500,000
Retained earnings		900,000		800,000
Total shareholders equity		1,490,000		1,390,000
Total liabilities and shareholders equity		$2,750,000		$2,360,000

If the market value of a share of common stock is 2.8 times book value for 20XX, what is the firms P/E ratio for 20XX? (Do not round intermediate calculations. Round the final answer to the nearest whole number.)

P/E ratio ------------------.times