The Crestar Company reported net income of $49,600 on 11,000 average outstanding common shares. Preferred dividends total $11,100. On the most recent trading day, the preferred shares sold at $41 and the common shares sold at $71.

What is this company's current price-earnings ratio? (Do not round your intermediate calculations.)

Multiple Choice

15.75

20.29

22.18

None of these answers are correct.