CorpCo gathered the following information as of the end of the current fiscal year:
Dividends on common stock $125,000
Market price per share of common stock $115
Shares of common stock outstanding 5,000
Dividends on preferred stock $65,000
Shares of preferred stock outstanding 600
Earnings per share on common stock $102
Dividends per share of common stock $25
Net income $575,000
What is CorpCo's price-earnings ratio? Round your answer to one decimal place
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