Use this information for Kellman Company to answer the question that follow. The balance sheets at the end of each of the first two years of operations indicate the following: Kellman Company Year 2 Year 1 Total current assets $606,800 $562,400 Total investments 65,000 44,900 Total property, plant, and equipment 915,300 748,400 Total current liabilities 101,700 89,600 Total long-term liabilities 277,400 236,000 Preferred 9% stock, $100 par 80,100 80,100 Common stock, $10 par 506,700 506,700 Paid-in capital in excess of parCommon stock 63,400 63,400 Retained earnings 557,800 379,900 Using the balance sheets for Kellman Company, if net income is $101,900 and interest expense is $44,400 for Year 2, and the market price of common shares is $40, what is the price-earnings ratio on common stock for Year 2? (Round intermediate calculation and final answer to two decimal places.) a. 9.94 b. 9.11 c. 1.87 d. 21.39