Your firm is expected to earn $1.51/share next year and has a cost of capital of 14.2%. Assume these earnings resemble a perpetuity with growth rate 4.1%. What is its price/earnings ratio?

Carry out calculations to at least 4 decimal places. Enter percentages as whole numbers. Example: 3.03% should be entered as 3.03. Do not include commas or dollar signs in numerical answers.