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Kiwi, Inc. provides the following information for 20X8: Net income $260,000 Market price per share of common stock $70 per share Dividends paid $190,000 Common

Kiwi, Inc. provides the following information for 20X8: Net income $260,000 Market price per share of common stock $70 per share Dividends paid $190,000 Common stock outstanding at Jan. 1, 2018 150,000 shares Common stock outstanding at Dec. 31, 2018 210,000 shares The company has no preferred stock outstanding. Calculate the price/earnings ratio of common stock

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