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A company reported the following: Net income Preferred dividends Shares of common stock outstanding $180,580 $13,380 40,000 $81.34 Market price per share of common

A company reported the following: Net income Preferred dividends Shares of common stock outstanding $180,580 $13,380 40,000 $81.34 Market price per share of common stock Calculate the company's price-earnings ratio. Round your answer to two decimal places.

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