Question: Robert Corporation had net income of $261,120 and paid dividends to common stockholders of $42,900. They had 54,400 shares of common stock outstanding during the

Robert Corporation had net income of $261,120 and paid dividends to common stockholders of $42,900. They had 54,400 shares of common stock outstanding during the entire year. Robert Corporation's common stock is selling for $63 per share on the New York Stock Exchange. Determine Robert Corporation's price-earnings ratio (Round to two decimal places).

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