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Problem 7-4 P/E Ratios (LO1) Favorita Candy's stock is expected to earn $3.20 per share this year. Its P/E ratio is 18. What is the

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Problem 7-4 P/E Ratios (LO1) Favorita Candy's stock is expected to earn $3.20 per share this year. Its P/E ratio is 18. What is the stock price? (Round your answer to 2 decimal places.) Stock price

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