Haywood and more have a market value balance sheet as shown below. the firm currently has 5,000 shares of stock outstanding at a market price per share of $35.40 . Net income is $9,500 Excess cash $ 8,000 Debt $0 Other assets 203,000 Equity $211,00 Total $ 211,000 total $211,000 The firm has decided to spend $8,000 and pay an extra cash dividend. What will the firms PE ratio be after this dividend is payed all else constant? a. 14.20 b. 16.67 c. 18.63 d. 21.22 e. 24.50