Razorback, Inc., which has no debt financing, has the following income statement and statement of cash flow information. Total operating expenses $ 49,000,000 Depreciation expense $ 3,000,000 Amortization of software development costs $ 1,100,000 Net income $10,000,000 Cash flow used in investing activities $ 8,000,000 (a) (a) Includes software development expenses of $ 3,500,000 Razorback has a current stock price of $26 per share and 15 million shares of common stock outstanding. What would the company's price / earnings ratio be if it expensed rather than amortized the software development costs? Assume that the company's current effective tax rate of 30% would not change.

a. 39.0

b. 44.5

c. 46.9

d. 49.1

e. 42.6

Need HELP ASAP PLEASE