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The Cincinnati Chili Kitchen has just announced the repurchase of $ 1 6 5 , 0 0 0 of its stock. The company has 4

The Cincinnati Chili Kitchen has just announced the repurchase of $165,000 of its stock. The company has 47,000 shares outstanding and earnings per share of $3.45. The company stock is currently selling for $77.13 per share. What is the price-earnings ratio after the repurchase?
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