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3. ABC Co. has net income of $38,000, total assets of $437,000, total liabilities of $208,000, and a price-book ratio of 3.8. There are 60.000

3. ABC Co. has net income of $38,000, total assets of $437,000, total liabilities of $208,000, and a price-book ratio of 3.8. There are 60.000 shares of stock outstanding. What is the firm's price-earnings ratio? (10 pts)

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