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Problem 3-24 Market Value Ratios (LG3-5) Leonatti Labs' year-end price on its common stock is $23. The firm has a profit margin of 8 percent,

Problem 3-24 Market Value Ratios (LG3-5)

Leonatti Labs' year-end price on its common stock is $23. The firm has a profit margin of 8 percent, total assets of $34 million, a total asset turnover of 0.75, no preferred stock, and 2 million shares of common stock outstanding.

Calculate the PE ratio for Leonatti Labs.(Do not round intermediate calculations. Round your answer to 2 decimal places.)

PE RATIO= ?

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