Kinco Industries Had Net Income for the Year 2013 of $650,000

Multiple Choice

Kinco Industries had net income for the year 2013 of $650,000. Kinco had an average number of shares outstanding at the end of the year of 725,000 shares. The market price of Kinco's stock on January 1, 2013 was $14 per share. On December 31, 2013, the market price was $16 per share. The price-earnings ratio for Kinco at year end is closest to?

A) 16.9:1
B) 17.78:1
C) 15.7:1
D) None of these is correct