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3. Problem 4.05 (Price Earnings Ratio) ebook A company has an IPS of $3.60, a book value per share of $38.88, and a market/book ratio

3. Problem 4.05 (Price Earnings Ratio) ebook A company has an IPS of $3.60, a book value per share of $38.88, and a market/book ratio of 1.x What is its P/E ratio? The stock price should be rounded to the nearest cent. Do not round Intermediate calculations. Round your answers to two decimal places

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