Union Pacifics reported the following financial information at yearend 2014:

Income Statement (in Millions) Other Data (in Millions)

Net Sales $6,800

Shares Outstanding 353.00

Less: Operating Expenses $4,550

Stock Dividends $441.25

Earnings Before Taxes $2,250

Less: Taxes $ 785

Stock Price=$50.00 per share

Net Earnings $1,765

What is the P/E ratio of Union Pacific?

a. 8.5 b. 10.0 c. 12.5 d. 15.0 e. 17.5