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Dock Side Loaders has 12,500 shares of stock outstanding at a market price of $51 each and earnings per share of $2.24. The firm has

Dock Side Loaders has 12,500 shares of stock outstanding at a market price of $51 each and earnings per share of $2.24. The firm has decided to repurchase $62,475 worth of stock. What will the PE ratio be after the repurchase, all else held constant?

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