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Data for Regal State Bank follow: (Click the icon to view the data.) Evaluate the common stock of Regal State Bank as an investment. Specifically, use the three stock ratios to determine whether the common stock has increased or decreased in attractiveness during the past year. Round to two decimal places. Begin by selecting the formula to calculate the pricelearnings ratio. Pricelearnings ratio = Market price per share of common stock - Earnings per share Now, calculate the price/earnings ratio for 2024 and 2023. (Round interim calculations to the nearest cent, $X.XX and your answers to two decimal places, X.XX.) Pricelearnings ratio 2024 2023 Data table 2024 2023 Net Income $ 56,600 $ 48,600 16,000 16,000 15,000 15,000 DividendsCommon DividendsPreferred Total Stockholders' Equity at Year-End (includes 80,000 shares of common stock) Preferred Stock 750,000 600,000 230,000 230,000 Market Price per Share of Common Stock $ 19.50 $ 13.00