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A company reported net income of $78,000 and had 15,000 common shares outstanding throughout the current year. At year-end, the price per share of the

A company reported net income of $78,000 and had 15,000 common shares outstanding throughout the current year. At year-end, the price per share of the company's stock was $49.40. What is the company's year-end price-earnings ratio?

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