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Leonatti Labs' year-end price on its common stock is $16. The firm has a profit margin of 7%, total assets of $33 million, a total
Leonatti Labs' year-end price on its common stock is $16. The firm has a profit margin of 7%, total assets of $33 million, a total asset turnover ratio of 0.80, no preferred stock, and 4 million shares of common stock outstanding. Calculate the PE ratio for Leonatti Labs. (Do not round intermediate calculations and round your final answer to the nearest whole number.)
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