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Use this information for Kellman Company to answer the question that follow.

The balance sheets at the end of each of the first 2 years of operations indicate the following:

Kellman Company
	Year 2	Year 1
Total current assets	$625,600	$572,100
Total investments	68,400	48,100
Total property, plant, and equipment	937,100	651,500
Total current liabilities	105,600	81,900
Total long-term liabilities	277,300	233,800
Preferred 9% stock, $100 par	80,500	80,500
Common stock, $10 par	507,000	507,000
Paid-in capital in excess of parCommon stock	66,600	66,600
Retained earnings	594,100	301,900

Using the balance sheets for Kellman Company, if net income is $100,900 and interest expense is $44,000 for Year 2, and the market price of common shares is $32, what is the price-earnings ratio on common stock for Year 2? (Round intermediate calculation and final answer to two decimal places.)

a.9.16

b.9.98

c.1.85

d.17.30