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#41 A company reports the following: Net income $387,760 Preferred dividends $28,720 Shares of common stock outstanding 33,000 Market price per share of common stock

#41

A company reports the following:

	Net income	$387,760
	Preferred dividends	$28,720
	Shares of common stock outstanding	33,000
	Market price per share of common stock	$72.24

Calculate the companys price-earnings ratio. Round your answer to two decimal places.

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