Use this information for Kellman Company to answer the question that follow.

The balance sheets at the end of each of the first $2$ years of operations indicate the following:

Kellman Company

Year $2$ Year $1$

Total current assets $$609,900$ $$589,800$

Total investments $61,90042,400$

Total property, plant, and equipment $895,500706,200$

Total current liabilities $119,70089,000$

Total long$-$term liabilities $323,800246,500$

Preferred $9\%$ stock, $$100$ par $95,20095,200$

Common stock, $$10$ par $518,400518,400$

Paid$-$in capital in excess of par$$Common stock $62,60062,600$

Retained earnings $447,600326,700$

Using the balance sheets for Kellman Company, if net income is $$106,700$ and interest expense is $$36,000$ for Year $2,$ and the market price of common shares is $$32,$ what is the price$-$earnings ratio on common stock for Year $2?($Round intermediate calculation and final answer to two decimal places.$)$