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Golf company has just announced the repurchase of $195,000 of its stock. The company has 53,000 shares outstanding and earnings per share of $3.57. The

Golf company has just announced the repurchase of $195,000 of its stock. The company has 53,000 shares outstanding and earnings per share of $3.57. The company stock is currently selling for $77.91 per share. What is the priceearnings ratio after the repurchase?

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