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A company reported the following: Net income Preferred dividends Shares of common stock outstanding Market price per share of common stock $274,230 $20,310 24,000 $63.80

A company reported the following: Net income Preferred dividends Shares of common stock outstanding Market price per share of common stock $274,230 $20,310 24,000 $63.80 Calculate the company's price-earnings ratio. Round your answer to two decimal places

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