Michelle Townsend owns stock in National Computers. Based on information in its annual report, National Computers reported after-tax earnings of $6,000,000 and has issued $5,000,000 shares of common stock. The stock is currently selling for $24 a share.

a. Calculate the earnings per share for National Computers. (Round your answer to 2 decimal places.)

b. Calculate the price earnings (PE) ratio for National Computers. (Use the rounded earnings per share from part a. Round your answer to 2 decimal

places.)