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29. Richards Corporation had net income of $261,560 and paid dividends to common stockholders of $54,100. It had 52,000 shares of common stock outstanding during

29. Richards Corporation had net income of $261,560 and paid dividends to common stockholders of $54,100. It had 52,000 shares of common stock outstanding during the entire year. Richards Corporation's common stock is selling for $55 per share. The price-earnings ratio is

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