Beer Corporation had net income of $216,000, and paid dividends to common stockholders of $43,000 in 2017. The weighted average

Beer Corporation had net income of $216,000, and paid dividends to common stockholders of $43,000 in 2017. The weighted average number of shares outstanding in 2017 was 58,500 shares. Beer Corporation’s common stock is selling for $79 per share on the New York Stock Exchange. Calculate Beer Corporation’s price earnings ratio. Round answer to one decimal place.


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