Dispirit Motors anticipates annual net income of $280 million. Dispirit has 400 million of common shares outstanding. The stock is selling for $40 per share. Dispirit has no preferred stock...

Dispirit Motors anticipates annual net income of $280 million. Dispirit has 400 million of common shares outstanding. The stock is selling for $40 per share. Dispirit has no preferred stock outstanding. What is Dispirit’s price-earnings ratio using projected earnings?