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Richards Corporation had net income of $282,663 and paid dividends to common stockholders of $52,400. It had 55,100 shares of common stock outstanding during the

Richards Corporation had net income of $282,663 and paid dividends to common stockholders of $52,400. It had 55,100 shares of common stock outstanding during the entire year. Richards Corporation's common stock is selling for $57 per share. The price-earnings ratio (rounded to two decimal places) is

a.12.76 times

b.11.11 times

c.9.94 times

d.12.31 times

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