The Valencia Company Reported Net Income of $80,000 on 20,000

Multiple Choice

The Valencia Company reported net income of $80,000 on 20,000 outstanding common shares.Preferred dividends total $12,000.On the most recent trading day,the preferred shares sold at $50 and the common shares sold at $68.This company's current price-earnings ratio is closest to:

A) 15
B) 17
C) 20
D) None of these answer choices are correct.