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The Cincinnati Chili Kitchen has just announced the repurchase of $95,000 of its stock. The company has 33,000 shares outstanding and earnings per share

 

The Cincinnati Chili Kitchen has just announced the repurchase of $95,000 of its stock. The company has 33,000 shares outstanding and earnings per share of $3.17. The company stock is currently selling for $75.31 per share. What is the price-earnings ratio after the repurchase?

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