The balance sheets at the end of each of the first two years of operations indicate the following: Kellman Company Total current assets Year 2 $618,216 Year 1 $553,686 Total investments 61,079 43,108 Total property, plant, and equipment 933,137 760,973 Total current liabilities Total long-term liabilities 111,680 86,809 321,525 231,403 Preferred 9% stock, $100 par Common stock, $10 par Paid-in capital in excess of par-common stock Retained earnings 80,828 80,828 591,905 591,905 63,300 443,194 63,300 303,522 Using the balance sheets for Kellman Company, if net income is $110,769 and interest expense is $45,204 for Year 2, and market price is $43, what is the price-earnings ratio on common stock for Year 2 (rounded to two decimal places)? Select the correct answer. 34.37 1.75 9.98 10.50