Using the information given here, what is the price$-$earnings ratio for DEF Company? $($Hint: This is a two$-$step calculation.$)($Round your answer to $2$ decimal places.$)$

Earnings $=$ $$912,000$

Number of shares outstanding $=120,000$

Price per share $=$ $$114\mathrm{.}00$

Book value per share $=$ $$10$

Multiple Choice

$30\mathrm{.}00$

$7\mathrm{.}60$

$12\mathrm{.}50$

$8\mathrm{.}60$