Net income. $$320,000$

Preferred stock outstanding $10\%$cumulative $$85,000$

market price per share of stock $$23$

Common stock outstanding $$1,280,000$

Average number of common shares outstanding $160,000$ shares

Number of common shares outstanding at the end of the accounting pai at $160,000$ shares

Dividends per share an common stock $$2\mathrm{.}50$ per share

The company's price$-$earning ratio is