The following information pertains to Swifty Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit.

Assets
Cash and short-term investments	$ 40000
Accounts receivable (net)	29000
Inventory	17000
Property, plant and equipment (net)	208000
Total Assets	$294000

Liabilities and Stockholders Equity
Current liabilities	$ 52000
Long-term liabilities	87000
Stockholders equitycommon	155000
Total Liabilities and Stockholders Equity	$294000

Income Statement
Sales (net)	$ 97000
Cost of goods sold	51000
Gross profit	46000
Operating expenses	10000
Net income	$ 36000

Number of shares of common stock	9000
Market price of common stock	$32
Dividends per share	0.40

What is the price-earnings ratio for Swifty?