S13-17 (similar to) JAX Corporation had net income for 2018 of $70,500. JAX had 6,100 shares of common stock outstanding at the beginning of the year and 28,500 shares of common stock outstanding as of December 31, 2018. During the year, JAX declared and paid preferred dividends of $11,680. Therefore, JAX's earnings per share for 2018 is $3.40. Assume the market price of JAX's common stock is $17.00 per share. Compute JAX's pricelearnings ratio Select the formula, then enter the amounts to calculate the company's pricelearnings ratio as of December 31, 2018. (Abbreviations used. Ave. - average, os outstanding, SE - stockholders' equity, shrs shares. Round the ratio to two decimal places.) Pricelearnings ratio