Revival Corporation's Annual Report Is as Follows If the Current Market Price Is $15 on March 31

Revival Corporation's annual report is as follows. $$\begin{array} { | l | r | r } \hline&\text { March 31, 2014 } & \text { March 31, 2015 }\\\hline \text { Net Income } &\$ 350,000 & \$ 423,500 \\\hline \text { Preferred Dividends } & 0 & 0 \\\hline \text { Total Stockholders' Equity } & \$ 4,200,000 & \$ 5,082,000 \\\hline \text { Stockholders' Equity attributable to Preferred Stock } &0 & 0 \\\hline \text { Number of Common Shares Outstanding } &275,464&192,168 \\\hline\end{array}$$ If the current market price is $15 on March 31, 2015, find the price/earnings ratio on March 31, 2015.

A) $8.29
B) $2.20
C) $1.81
D) $6.81