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Mercantile Industries reported a profit margin of 9.7 percent on sales of $7,020. The company has 2,120 shares of stock outstanding, priced at $1.65 per

Mercantile Industries reported a profit margin of 9.7 percent on sales of $7,020. The company has 2,120 shares of stock outstanding, priced at $1.65 per share. What is the company's price-earnings ratio?

Responses

10.58

9.18

6.54

5.14

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