Rather Corporation's annual report is as follows.

	March 31, 2018	March 31, 2019
Net Income	$358,000	$429,500
Preferred Dividends	0	0
Total Stockholders' Equity	$4,220,000	$5,112,000
Stockholders' Equity attributable to Preferred Stock	0	0
Number of Common Shares Outstanding	275,464	200,168

If the current market price is $17 on March 31, 2019, compute the price/earnings ratio on March 31, 2019. (Round any intermediate calculations and your final answer to the nearest cent.)

		a.1.81
		b. 7.91
		c. 9.39
		d.2.15