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Essential Car Parts Inc. has a common share market price of $35. The company has 50 million shares outstanding, no preferred shares, and last year

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Essential Car Parts Inc. has a common share market price of $35. The company has 50 million shares outstanding, no preferred shares, and last year had a net income after tax (NIAT) of $220 milion. They have a total book value of $1,100 million. Required: What is the company's P/E ratio? Show or explain your work

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