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Given the following information: Preferred dividends $ 50 Income taxes $200 Average number of shares outstanding 250 shares Market price per common share $ 10

Given the following information:

Preferred dividends $ 50

Income taxes $200

Average number of shares outstanding 250 shares

Market price per common share $ 10

Net income $600

What is the price/earnings ratio?

a. 3.3 times

b. 2.9 times

c. 3.8 times

d. 4.5 times

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