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Fancy Flights has 100,000 common shares outstanding, they are currently trading at $21 per share. Net income is $175,000. What is the Price-to-Earnings Ratio? The

Fancy Flights has 100,000 common shares outstanding, they are currently trading at $21 per share. Net income is $175,000. What is the Price-to-Earnings Ratio?

The answer is 12. I want to know how to calculate.

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