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A company reports the following: Net income $210,780 Preferred dividends $15,610 Shares of common stock outstanding 29,000 Market price per share of common stock $71.00

A company reports the following:

	Net income	$210,780
	Preferred dividends	$15,610
	Shares of common stock outstanding	29,000
	Market price per share of common stock	$71.00

Calculate the company's price-earnings ratio. Round your answer to two decimal places. image text in transcribed Please explain and show the answer. Thanks!

A company reports the following: Net income $210,780 Preferred dividends $15,610 Shares of common stock outstanding 29,000 Market price per share of common stock $71.00 Calculate the company's price-earnings ratio. Round your answer to two decimal places

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