The 12-month trailing EPS for Forever Fabrication Factory (FFF) as of December 31, 2007, is $1.29. FF stock trades at $42.50 per share as of 12/31/07. In the first two quarters of 2007, FFF reported an extraordinary loss of $0.22 per share. In the third quarter, the company reported a loss from the write-down of inventory of $0.04 per share. In the fourth quarter, FFF reported a gain of $0.08 per share from a change in accounting estimate when it increased the estimate of useful life of certain manufacturing equipment. FFFs trailing P/E ratio based on underlying earnings is closest to:

Select one:

a. 24.6

b. 28.9

c. 32.5

d. 36.1