Your firm is expected to earn $1.88/share next year and has a cost of capital of 13.6%. Assume these earnings resemble a perpetuity with growth rate 6.5%. What is its price/earnings ratio?

Carry out calculations with complete accuracy and report answers to four 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.