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Question Completion Status: Bavarian Sausage, Inc. posted the following income statement: Income Statement Sales Cost of goods sold Depreciation $525,000 215,000 65,000 Earnings before interest and taxes 245,000 Interest expense 35,000 Net profit before taxes 210,000 84000 Taxes (40%) Net income $126,000 Bavarian Sausage, Inc. has 100,000 shares of common stock outstanding, but no preferred stock. The current price of Bavarian's common stock is $15. What is the company's P/E-ratio? (Show your work. Two decimal places required. Highlight or bold your answer.)