Financial information for Forever 18 includes the following selected data (in millions):

($ in millions)	2018		2017
Net income	$	159	$	235
Dividends on preferred stock	$	28	$	19
Average shares outstanding (in millions)		300		500
Stock price	$	11.22	$	10.17

2-a. Calculate the price-earnings ratio in 2017 and 2018. (Enter your Price-earning ratio values to two decimal places. Enter your answers in millions (i.e. 5,550,000 should be entered as 5.55).)