Ale Corporation Had Net Income of $240000 and Paid Dividends

Ale Corporation had net income of $240000 and paid dividends to common stockholders of $40000 in 2017. The weighted average number of shares outstanding in 2017 was 60000 shares. Ale Corporation's common stock is selling for $76 per share on the New York Stock Exchange. Ale Corporation's price-earnings ratio is

A) 3.2 times.
B) 22.8 times.
C) 19 times.
D) 12.7 times.