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A company reported net income of $836,000 for the current year. The year-end market price per common share was $12 and there were 475,000 weighted-average

A company reported net income of $836,000 for the current year. The year-end market price per common share was $12 and there were 475,000 weighted-average shares of common stock outstanding.

Calculate the company's price-earnings ratio.

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