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A Corporation Reported Net Income of $3,730,000 and Paid Preferred

Question 119

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A corporation reported net income of $3,730,000 and paid preferred cash dividends of $100,000 during the current year.There were 600,000 shares of common stock outstanding and the market price per common share was $88.33 at year-end.Calculate the company's price-earnings ratio.

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$88.33/[($3,730,000 ...

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