Richards Corporation had net income of $216,673 and paid dividends to common stockholders of $52,200. It had 55,700 shares of common stock outstanding during the entire year. Richards Corporation's common stock is selling for $60 per share. The price-earnings ratio (rounded to two decimal places) is

a. 15.42 times

b. 14.45 times

c. 16.99 times

d. 16.55 times