Information concerning Hamilton’s common stock is presented below for the fiscal year ended May 31, Year 2.
Common stock outstanding 750,000
Stated value per share $15.00
Market price per share 45.00
Year 1 dividends paid per share 4.5
Year 2 dividends paid per share 7.5
Basic earning per share 11.25
Diluted earnings per share 9.0
The price-earnings ratio for Hamilton’s common stock is