The following information was extracted from the financial statements of Ignite Company Ltd: Total assets Net sales Gross profit Net income Number of preference shares outstanding Number of ordinary shares outstanding Market price per ordinary share $800,000 $720,000 $352,000 $150,000 30,000 50,000 $64.50 Given this information, what was Ignite Company Ltd's price earnings ratio for the year? Select one: a. 4.5 times b. 36 times c. 21.5 times d. 3.0 times