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Mining Materials, Inc. has a market-to-book ratio of 1.6, net income of $180,000, a book value per share of $52.50, and 120,000 shares of stock

Mining Materials, Inc. has a market-to-book ratio of 1.6, net income of $180,000, a book value per share of $52.50, and 120,000 shares of stock outstanding. What is the price-earnings ratio?

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