Dorchester, Inc

Dorchester, Inc. has 7,500 shares of stock outstanding at a market price of $42 each and earnings per share of $1.80. The firm has decided to repurchase $63,000 worth of stock. What will the PE ratio be after the repurchase, all else held constant?

A) $1.30
B) $1.44
C) $1.80
D) $2.02
E) $2.25