Trenton Company has provided the following information: Net income, $270,000; Preferred shares issued, 6,300; Weighted average number of shares of common stock issued, 24,300; Cash dividends declared and paid on common stock, $33,000; Market price per share, $39; Weighted average number of treasury shares of common stock, 4,300.

What is Trenton's price/earnings ratio?

4.77

2.89

4.13

3.51