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The price-earnings ratio of a stock is given by R(P,E)=EP where P is the price of the stock and E is the earnings per share.

The price-earnings ratio of a stock is given by R(P,E)=EP where P is the price of the stock and E is the earnings per share. Recently, the price per share of a certain company was $31.81 and the earnings per share were $2.26. Find the price-earnings ratio. The price-earnings ratio is (Round to the nearest hundredth.)

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