National Company has 100,000 shares of P10 par value common stock issued and outstanding. Total stockholders' equity is P2,800,000 and net income for the year is P800,000. During the year National Co....

National Company has 100,000 shares of P10 par value common stock issued and outstanding. Total stockholders' equity is P2,800,000 and net income for the year is P800,000. During the year National Co. paid P3.00 per share in dividends on its common stock. The market value of National's common stock is P25. What is the price-earnings ratio?