Kellman Company
	Year 2	Year 1
Total current assets	$627,900	$564,400
Total investments	65,500	52,800
Total property, plant, and equipment	928,300	722,500
Total current liabilities	101,100	86,500
Total long-term liabilities	294,900	243,500
Preferred 9% stock, $100 par	97,700	97,700
Common stock, $10 par	549,800	549,800
Paid-in capital in excess of parCommon stock	67,100	67,100
Retained earnings	511,100	295,100

Using the balance sheets for Kellman Company, if net income is $100,400 and interest expense is $34,800 for Year 2, and the market price of common shares is $48, what is the price-earnings ratio on common stock for Year 2? (Round intermediate calculation and final answer to two decimal places.)

a.1.67

b.28.74

c.9.13

d.8.98