Rather Corporation's Annual Report Is as Follows If the Current Market Price Is $17 on March 31,2019,compute

Multiple Choice

Rather Corporation's annual report is as follows. $$\begin{array} { | l | r | r | } \hline & \text { March 31, 2018 } & \text { March 31, 2019 } \\\hline \text { Net Income } & \$ 358,000 & \$ 429,500 \\\hline \text { Preferred Dividends } & 0 & 0 \\\hline \text { Total Stockholders' Equity } & \$ 4,220,000 & \$ 5,112,000 \\\hline \text { Stockholders' Equity attributable to Preferred } & & \\\text { Stock } & 0 & 0 \\\hline \text { Number of Common Shares Outstanding } & 275,464 & 200,168 \\\hline\end{array}$$ If the current market price is $17 on March 31,2019,compute the price/earnings ratio on March 31,2019.(Round any intermediate calculations and your final answer to the nearest cent.)

A) 9.39
B) 2.15
C) 1.81
D) 7.91