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Reagon Corp has reported a net income of $842,500 for the year. The company's share price is $12.38, and the company has 302, 690 shares

Reagon Corp has reported a net income of $842,500 for the year. The company's share price is $12.38, and the company has 302, 690 shares outstanding. Compute the firm's price-earnings ratio up to two decimal papers.

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