Richards Corporation had net income of $158,720 and paid dividends to common stockholders of $41,700. It had 51,200 shares of common stock outstanding during the entire year. Richards Corporation's common stock is selling for $62 per share. The price-earnings ratio is:

A: 21.20 times

B: 18.79 times

C: 21.70 times

`D: 20.00 times