Harvest Corporation's capital stock at December 31 consisted of the following: (a) Common stock, $2par value; 100,000 shares authorized, issued, and outstanding. (b) 10% noncumulative, nonconvertiblepreferred stock, $100 par value; 1,000 shares authorized, issued, and outstanding.Harvest's common stock, which is listed on a major stock exchange, was quoted at $4 per share on De-cember 31. Harvest's net income for the year ended December 31 was $50,000. The yearly preferreddividend was declared. No capital stock transactions occurred. What was the price- earnings ratio onHarvest's common stock at December 31?