Ventura Enterprises Ltd. reported a net income of $166,000 for the fiscal year that just ended. During the year a total of $40,000 was declared and paid to the preferred shareholders and there were 56,000 common shares outstanding throughout the year. If the market price per share is $20.50 what is the price-earnings ratio for Ventura Enterprises Ltd.?

a. 28.70

b 6.92

c 46.12

d 9.11

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