The following information pertains to Patterson Corporation. Assume that all balance sheet amounts represent both average and ending figures.

Patterson Corporation
Partial Balance Sheet
December 31, 20x5
Liabilities and Stockholders' Equity
Current liabilities		$ 90,000
Long-term liabilities		135,000
Stockholders' equity		225,000
Total liabilities and stockholders' equity		$450,000

Patterson Corporation
Income Statement
For the Year Ended December 31, 20x5
Net sales		$120,000
Cost of goods sold		67,500
Gross margin		$52,500
Operating expenses		22,500
Income before income taxes		$30,000
Income taxes expense		7,500
Net income	$22,500

Patterson Corporation had 6,000 shares of common stock issued and outstanding. The market price of Patterson common stock on December 31, 20x5, was $23. Patterson paid dividends of $0.90 per share during 20x5. What is the price/earnings (P/E) ratio for this corporation? Round your answer to two decimal places.

	A.	5.47 times
	B.	7.13 times
	C.	4.80 times
	D.	6.13 times