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Franklin Corporation reported net income of $40,000 in Year 1. The company had 50,000 shares of $12 par value common stock outstanding and a market

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Franklin Corporation reported net income of $40,000 in Year 1. The company had 50,000 shares of $12 par value common stock outstanding and a market price of $60 per share. What is Franklin's price-earnings ratio? 2o 2.5 points Multiple Choice elook 75 Print ReferenceS 7.5 48 5.0

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