Use the Following Information for Questions

Multiple Choice

Use the following information for questions
During 2016, Pattar Corp.reported after-tax profit of $450,000 and paid $75,000 in common dividends.The weighted average number of common shares issued in 2016 was 150,000.There are no preferred shares issued.At year end, Pattar's common shares are selling for $60 per share on the Toronto Stock Exchange.
-Pattar's price-earnings ratio is

A) 120 times.
B) 24 times.
C) 20 times.
D) 3 times.