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A company reported the following: Net income $156,430 Preferred dividends $11,590 Shares of common stock outstanding 34,000 Market price per share of common stock $100.88

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A company reported the following: Net income $156,430 Preferred dividends $11,590 Shares of common stock outstanding 34,000 Market price per share of common stock $100.88 Calculate the company's price-earnings ratio. Round your answer to two decimal places

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