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A company has an EPS of $2.40, a book value per share of $22.32, and a market/book ratio of 2.2x. What is its P/E ratio?

A company has an EPS of $2.40, a book value per share of $22.32, and a market/book ratio of 2.2x. What is its P/E ratio? The stock price should be rounded to the nearest cent. Round your answer to two decimal places.

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