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A company reports the following: Net income Preferred dividends Shares of common stock outstanding Market price per share of common stock $560,160 $41,490 51,000

A company reports the following: Net income Preferred dividends Shares of common stock outstanding Market price per share of common stock $560,160 $41,490 51,000 $52.27 Compute the company's price-earnings ratio. Round answer to one decimal place.

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