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Question - The following information was available for the year ended December 31, 2019:
Net income $50,000
Average total assets 600,000
Dividends per share 1.40
Earnings per share 5.00
Market price per share at year-end 70.00
Required - What the price-earnings ratio for 2019?
a. 14.0
b. 28.0
c. 12.0
d. 50.0
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