Watkinson Chapel plc is a listed company with a market capitalization of £3 430 000 at 31 August 2012. It has in issue 1 000 000 £1 ordinary shares, and profits attributable to ordinary shareholders for the year ending 31 August 2012 were £243 700. What was the company’s P/E ratio at 31 August 2012?

a) 21.4

b) 4.1

c) 3.4

d) 14.1.