1. Simba Corporations December 31, 2020 balance sheet showed the following Shareholder Equity:

Paid in Capital:
8% preferred stock, $20 par value, noncumulative	$ 200,000
Common stock, $10 par value	500,000
Additional Paid-in capital in excess of parP/S	100,000
Additional Paid-in capital in excess of parC/S	300,000
Total Paid In Capital	1,100,000
Retained Earnings	2,000,000
Total Shareholders' Equity	$ 3,100,000

Assume that no shares of preferred or common stock were issued during 2020. Further assume that net income for 2020 was $166,000. The market price of Simba's common stock is $42 on December 31, 2020. The price earnings (p/e) ratio of Simba's common shares was __________ times on that date?