Daniel Corporation had net income for 2018 of​ $75,000. Daniel had​ 6,000 shares of common stock outstanding at the beginning of the year and​ 22,000 shares of common stock outstanding at the end of the year. There were​ 8,000 shares of preferred stock outstanding all year. During​ 2018, Daniel declared and paid preferred dividends of​ $26,000. On December​ 31, 2018, the market price of​ Daniel's common stock is​ $45 per share and the market price of its preferred stock is​ $73 per share. What is​ Daniel's price/earnings ratio at December​ 31, 2018? ​(Round any intermediate calculations and your final answer to the nearest cent​.