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Question - Richards Corporation had net income of $282,663 and paid dividends to common stockholders of $52,400. It had 55,100 shares of common stock outstanding during the entire year. Richards Corporation's common stock is selling for $57 per share. Compute the price-earnings ratio (rounded to two decimal places)?
a. 12.76 times
b. 11.11 times
c. 9.94 times
d. 12.31 times
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