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The market capitalization rate for Admiral Motors Company is 11%. Its expected ROE is 15% and its expected EPS is $9. Required: If the firm's

The market capitalization rate for Admiral Motors Company is 11%. Its expected ROE is 15% and its expected EPS is $9. Required: If the firm's plowback ratio is 40%, what will be its P/E ratio? (Round your answer to 2 decimal places.)

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