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Fahy Foods has net income of $ 3 9 , 9 0 0 , net sales of $ 3 1 8 , 6 0 0

Fahy Foods has net income of $39,900, net sales of $318,600, total assets of $663,000, common stock of $106,800 with a par value of $1 per share, and retained earnings of $224,400. The stock has a market value of $5.45 per share. What is the price-earnings ratio?

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