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

Rather Corporation's annual report is as follows. $$\begin{array} { | l | r | r | } \hline & \text { March 31, 2018 } & \text { March 31, } 2019 \\\hline \text { Net Income } & \$ 358,000 & \$ 429,500 \\\hline \text { Preferred Dividends } & 0 & 0 \\\hline \text { Total Stockholders' Equity } & \$ 4,220,000 & \$5,112,000 \\\hline \text { Stockholders' Equity attributable to Preferred } & 0 & 0\\\text { Stock } & \\\hline \text { Number of Common Shares Outstanding } &275,464 & 200,168 \\\hline\end{array}$$
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