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Carter's Books, Inc., has net income of $75,000 and a plowback ratio of 80%. There are 30,000 shares of stock outstanding at a market price

Carter's Books, Inc., has net income of $75,000 and a plowback ratio of 80%. There are 30,000 shares of stock outstanding at a market price of $25.50 a share. What is the price-earnings ratio?

Multiple Choice

6.9
8.2
9.7
10.2
11.6

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