Line Item Description	Year 2	Year 1
Total current assets	$615,459	$567,409
Total investments	66,219	47,563
Total property, plant, and equipment	906,012	628,148
Total current liabilities	107,120	86,604
Total long-term liabilities	316,213	227,314
Preferred 9% stock, $100 par	92,730	92,730
Common stock, $10 par	547,774	547,774
Paid-in capital in excess of par-common stock	60,589	60,589
Retained earnings	463,264	228,109

Using the balance sheets for Company, if net income is $100,149 and interest expense is $39,580 for Year 2, and the market price of common shares is $47, what is the price-earnings ratio on common stock for Year 2 (rounded to two decimal places)?

a. 1.68

b. 27.98

c. 9.87

d. 9.57