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A company has earnings per share of $1.70, it paid a dividend of $1.00 per share, and the market price of the company's stock is

A company has earnings per share of $1.70, it paid a dividend of $1.00 per share, and the market price of the company's stock is $50 per share. The price/earnings ratio is closest to: (Round your answer to 2 decimal places.)

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