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Reagon Corp has reported a net income of $850,000 for the year. The company's share price is $13.32, and the company has 303,870 shares outstanding.

Reagon Corp has reported a net income of $850,000 for the year. The company's share price is $13.32, and the company has 303,870 shares outstanding. Compute the firm's price-earnings ratio up to two decimal places.

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